Israel central banker disqualified from IMF race

AP News
Posted: Jun 14, 2011 12:47 AM
Israel central banker disqualified from IMF race

Israel's central banker, a former No. 2 at the International Monetary Fund, has been disqualified from the race for the group's top job.

In a statement from Washington on Monday, the IMF did not mention Bank of Israel Governor Stanley Fischer when it said it would consider two candidates for the post of managing director.

They are front-runner Christine Lagarde, the French finance minister, and Agustin Carstens, Mexico's central bank chief.

Fischer's candidacy was considered a long shot. He is two years above the age limit of 65 that the IMF has set for an incoming managing director.

Also, the IMF historically has been headed by a European. Fischer has U.S. citizenship.

The IMF's last chief, Dominique Strauss-Kahn, resigned last month after his arrest on sexual assault charges in New York. He has pleaded not guilty.