The IMF board said any country could nominate a candidate to succeed IMF managing
director Rodrigo Rato, throwing open to worldwide competition a job customarily
given to Europeans, even as the European Union chose France''s Dominique Strauss-Kahn
to head the International Monetary Fund.
will support Strauss-Kahn, a former French finance minister, after Spain''s Rodrigo
Rato steps down in October, Portugal, which leads the talks among all 27 EU nations,
Europe and the US share top jobs at the world''s two major financial institutions,
with the EU picking the head of the IMF and the US choosing the World Bank chief.
executive director may submit a nomination, regardless of nationality, for the
position, consistent with past practice," the board of IMF shareholder nations
said in a statement, as some European countries pushed to maintain a tradition
of selecting the head of the institution.
24-member IMF board, which is made up of the fund''s member countries, including
Europeans, said it would meet at a later date to finalise the selection procedure.
will meet again to finalise the selection procedure expeditiously to ensure a
timely decision in an open and transparent manner," the board said.
nations are challenging the custom whereby Europeans head the IMF and an American
leads its sister organisation, the World Bank.
French President Nicolas Sarkozy launched a drive to nominate former Socialist
Finance Minister Dominique Strauss-Khan to run the IMF, but Britain said the post
does not necessarily have to be filled by a European.