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New IMF chief selection

21 May 2011 08:20 am - 16     - {{hitsCtrl.values.hits}}

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The International Monetary Fund's selection process for a new managing director will kick off with nominations Monday, and the final decision expected by June 30, the institution said late Friday.

"I am very pleased to announce that the Fund's Executive Board has adopted a procedure that allows the selection of the next managing director to take place in an open, merit-based, and transparent manner," A. Shakour Shaalan, dean of the IMF executive board, said in a statement.

The position was opened in extraordinary circumstances this week after the former head Dominique Strauss-Kahn resigned in the wake of a sex scandal.

An individual "may be nominated for the position of Managing Director by a Fund Governor or an Executive Director during a nomination period which shall commence on May 23, 2011 and will close on June 10, 2011," said the IMF.

The board's aim "is to select the managing director by consensus with the objective of completing the selection process by June 30, 2011."

French Finance Minister Christine Lagarde emerged Friday as Europe's choice to lead the IMF, getting a boost when a Turkish favourite ruled out his candidacy for the powerful job.

Even as leaders in emerging economies clamoured for one of their own to take a job monopolised by Europeans since 1946, analysts called Lagarde the odds-on favourite to replace Strauss-Kahn after he stepped down to face sexual assault charges in New York.

Lagarde is "practically a shoo-in" as the European Union's candidate to succeed Strauss-Kahn, an EU source said. (Source: AFP/ac)
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  Comments - 16

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  • Wimal_Modawansa Saturday, 21 May 2011 08:32 AM

    We recommend the name of our Finance Minister for this post.

    DXB Saturday, 21 May 2011 08:52 AM

    The Ideal person is Gota or Basil ... the only two intelectuals present world is having

    Bumba Sunday, 22 May 2011 01:42 AM

    My foot

    ravi Saturday, 21 May 2011 09:27 AM

    yes DXB they know how to eat the money..

    Citizen Sunday, 22 May 2011 03:34 AM

    Which one..? We have lot.....

    misunderstood Saturday, 21 May 2011 10:10 AM

    hay guys!! how about our former Finance Minster Chandrika or current CBSL Governor Mr Cabraal??

    amal Saturday, 21 May 2011 10:19 AM

    the epitome of sarcasm!

    I Hussein Saturday, 21 May 2011 10:31 AM

    Well i would suggest cabral, isnt he a genuis, only discovered recently though.

    I Hussein Saturday, 21 May 2011 10:28 AM

    Do we have one?

    junior mervin Saturday, 21 May 2011 10:59 AM

    we can suggest our "think tank" mervin silva as a candidate

    Ragi Saturday, 21 May 2011 01:25 PM

    Aleady Sinaporean Deputy primister , a Jaffana Tamil, who is alreayd in the board is recommended guys .Becsue he is a taimil Srilanka will not like , but they will like a Arab or Indian

    Black Mamba Saturday, 21 May 2011 02:29 PM

    How about nominating Citizen Perera- it will be good times ahead for all SL poor if he is appointed!~!!!!!!!!

    goda Saturday, 21 May 2011 02:09 PM

    Ajith Nivad Cabral is the best..Dont you think

    ICC Saturday, 21 May 2011 02:33 PM

    No body qualibicat because must criminal record
    chek.

    Minister Saturday, 21 May 2011 02:41 PM

    Wait, till we send our nominations also. We have so many eligible candidates!

    Yehiya-Doha Saturday, 21 May 2011 02:46 PM

    No more IMF. Have a chance to Sri lankan origin Singaporian.


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