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Bank of Israel Governor Fischer eyeing IMF post

Business Materials 12 June 2011 07:20 (UTC +04:00)
Bank of Israel Governor Stanley Fischer is seeking the top job at the Washington-based International Monetary Fund, the Israeli website Ynet News reported Saturday.
Bank of Israel Governor Fischer eyeing IMF post

Bank of Israel Governor Stanley Fischer is seeking the top job at the Washington-based International Monetary Fund, the Israeli website Ynet News reported Saturday.

The 68-year-old served as IMF deputy chief from 1994-2001, dpa reported.

The international lender, which helps governments during economic and budget crises, is conducting a search process after last month's departure of managing director Dominique Strauss-Kahn. He resigned within days of his May 14 arrest in an alleged sexual assault against a hotel maid in New York.

The IMF has been involved in the recent bailouts of eurozone governments in Greece, Ireland and Portugal, working with the European Union.

French Finance Minister Christine Lagarde, 55, is widely considered the frontrunner for the post, which has been held by Europeans since the IMF was founded after World War II.

Pressure has been growing from emerging markets for IMF governance to opened up, including the top job. Mexican central bank Governor Agustin Carstens, 53, the other acknowledged nominee, is seen as the candidate of the emerging economies.

Fischer may be positioned as a compromise choice in case of a deadlock.

The IMF board is expected to interview the candidates in the coming days.

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