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Bank of Israel chief wants to lead IMF

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Bank of Israel chief wants to lead IMF


There is another candidate in the running for the top job at the International Monetary Fund now that Stanley Fischer has declared his interest. The Bank of Israel Governor is a former IMF deputy chief. He says leading the organisation is one of the best jobs in the international financial system. However, his age might be an obstacle, because according to the rules he is too old at 67.

Christine Lagarde is still the frontrunner for the job. She is the French Finance Minister and is backed by the EU and some other countries. Currently, she is on a tour of developing countries to drum up support for her bid. In addition, being French is in her favour, as traditionally a European heads up the IMF, whilst an American runs the World Bank. Fischer is a US citizen.

Also going for the job is Mexican Central Bank chief, Agustin Carstens. He too has previous experience within the IMF, serving as a deputy managing director for 3 years. Carstens, who was Mexico’s Finance Minister, is seen as the underdog, but is backed by Latin American countries.

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