Geithner says talking with emerging markets on IMF post

Reuters News
Posted: May 20, 2011 1:58 PM

WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Friday that discussions were under way with International Monetary Fund shareholders from emerging markets as well as advanced countries about a new IMF chief.

"We are prepared to support a candidate with the requisite, deep experience and leadership qualities, and who can command broad support among the Fund's membership," Geithner said in a statement.

Geithner's remarks appeared to be intended to signal that the United States was not automatically backing a European successor to former IMF Managing Director Dominique Strauss-Kahn. Some emerging-market countries have said that the convention of having the IMF chief come from Europe was outmoded and that others should also have a chance at the job.

"It is important that this be an open process and one that moves quickly to select new leadership for the IMF," Geithner said.

(Reporting by Glenn Somerville, editing by Diane Craft)