IMF Executive Board to interview Lagarde, Carstens for top job

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IMF Executive Board to interview Lagarde, Carstens for top job

2011-06-21 20:24:23 GMT+7 (ICT)

WASHINGTON, D.C. (BNO NEWS) -- The Executive Board of the International Monetary Fund (IMF) on Tuesday said it will meet this week to interview France's Lagarde and Mexico's Carstens for the top job of managing director.

A. Shakour Shaalan, Dean of the Executive Board of the IMF, said in a statement that the next step in the process of electing a managing director is now underway. "Both candidates, Mr. Agustín Carstens and Ms. Christine Lagarde, will be meeting with the Executive Board this week," Shaalan said.

Agustin Carstens, the Governor of the Bank of Mexico, began his visit to the IMF on Monday, and will meet with the Board on Tuesday. Christine Lagarde, French Minister of Economy, Industry and Employment, will visit the IMF on Wednesday and meet with the Board on Thursday.

"During their visits, both candidates will also meet bilaterally with the Executive Directors," said Shaalan. "During their informal meetings with the Board, each candidate will present their views on issues facing the Fund and the membership, and the Executive Directors will be able to exchange views with the candidates."

Following the meetings, the Board is scheduled to meet early next week to discuss the strengths of each candidate, with the aim of completing the selection process by June 30. In terms of the selection process, although the Board may select a Managing Director by a majority of the votes cast, the Board's objective is to select the Managing Director by consensus in a formal meeting.

Both Castens and Lagarde have received support from a number of countries. 67-year-old Israeli central bank governor Stanley Fischer was not included in the selection process as IMF rules do not allow first-time managing directors who have exceeded the age of 65.

John Lipsky is currently acting managing director after Dominique Strauss-Kahn resigned last month. The resignation came days after Strauss-Kahn was arrested in New York over allegations of sexual assault.

According to the allegations, Strauss-Kahn forced a 32-year-old hotel maid at the Sofitel New York Hotel to perform oral sex on him twice before engaging in anal sexual conduct with her. He also grabbed the victim's breasts and vaginal area.

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