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Strauss-Kahn resigns: Global fight for IMF top job Strauss-Kahn resigns: Global fight for IMF top job
(40 minutes later)

Possible IMF successors

Possible IMF successors

There is a range of possible contenders for the top job at the International Monetary Fund. Find out about some of themThere is a range of possible contenders for the top job at the International Monetary Fund. Find out about some of them

Stanley Fischer

Christine Lagarde

Israel's central bank governor French finance minister
Israel/United States France
Mr Fischer, 67, knows the IMF well having served as the first deputy managing director at the fund from 1994 to 2001. A world-renowned economist, he has written more than a dozen books and headed the prestigious economics department at the Massachusetts Institute of Technology. If the post does end up going to a European, French Finance Minister Christine Lagarde, 55, looks like a top candidate. A flawless English speaker, she was voted best finance minister in Europe by the Financial Times in 2009. Counting against her is her nationality since so many previous IMF chiefs have been French.

Mohamed El-Erian

Peer Steinbrueck

CEO of bond investor PIMCO
Israel/US/Egypt/France
Mr El-Erian, 52, has twice been put forward for the IMF job by Egypt's representative at the fund. An expert on emerging market debt, he worked at the IMF for 15 years in the 1980s and 1990s, before joining a major US bank in London. However, as his ex-wife is a senior IMF official, he is an outsider.

Peer Steinbrueck

Former German finance ministerFormer German finance minister
GermanyGermany
Mr Steinbrueck, 62, is a long-shot to become IMF chief, in part because he alienated allies of Germany with his fiery rhetoric while serving as finance minister in conservative Chancellor Angela Merkel's "grand coalition" from 2005 to 2009. He also alienated the United States by openly blaming it for the global financial crisis.Mr Steinbrueck, 62, is a long-shot to become IMF chief, in part because he alienated allies of Germany with his fiery rhetoric while serving as finance minister in conservative Chancellor Angela Merkel's "grand coalition" from 2005 to 2009. He also alienated the United States by openly blaming it for the global financial crisis.

Axel Weber

Axel Weber

Former head of BundesbankFormer head of Bundesbank
GermanyGermany
Mr Weber, 54, stunned Europe by announcing in February that he would be stepping down early from his post as head of the German central bank, the Bundesbank. Like Mr Steinbrueck, Mr Weber has a reputation as something of a loose cannon, who speaks his mind without regard to political or diplomatic constraints.Mr Weber, 54, stunned Europe by announcing in February that he would be stepping down early from his post as head of the German central bank, the Bundesbank. Like Mr Steinbrueck, Mr Weber has a reputation as something of a loose cannon, who speaks his mind without regard to political or diplomatic constraints.

Montek Singh Ahluwlia

Economic adviser to India's PM
India
Mr Ahluwalia, 67, is an influential economic adviser to Indian Prime Minister Manmohan Singh and has been a key figure in the country's economic reforms from the mid-1980s onwards. He supports open markets and has pushed the government to end fuel price controls and remove barriers to foreign business. His age may count against him.

Kemal Dervis

Kemal Dervis

Former economy ministerFormer economy minister
TurkeyTurkey
Mr Dervis is credited with bringing Turkey back from the brink after a disastrous 2001 financial crisis, by pushing through tough reforms and helping secure a multi-billion dollar IMF bail-out. He had previously risen to vice-president at the World Bank. Seen as a leading candidate if the IMF post goes to someone outside central Europe.Mr Dervis is credited with bringing Turkey back from the brink after a disastrous 2001 financial crisis, by pushing through tough reforms and helping secure a multi-billion dollar IMF bail-out. He had previously risen to vice-president at the World Bank. Seen as a leading candidate if the IMF post goes to someone outside central Europe.

Christine Lagarde

Trevor Manuel

French finance minister
France
If the post does end up going to a European, French Finance Minister Christine Lagarde, 55, looks like a top candidate. A flawless English speaker, she was voted best finance minister in Europe by the Financial Times in 2009. Counting against her is her nationality since so many previous IMF chiefs have been French.

Trevor Manuel

Ex Finance ministerEx Finance minister
South AfricaSouth Africa
Mr Manuel, 55, is well-respected in global financial circles, having served as finance minister of South Africa from 1996 to 2009. Born in Cape Town under apartheid, he was imprisoned repeatedly by the South African government for political activities in the late 1980s.Mr Manuel, 55, is well-respected in global financial circles, having served as finance minister of South Africa from 1996 to 2009. Born in Cape Town under apartheid, he was imprisoned repeatedly by the South African government for political activities in the late 1980s.

Agustin Carstens

Agustin Carstens

Governor Bank of MexicoGovernor Bank of Mexico
MexicoMexico
Mr Carstens, 52, has spent most of his professional career as an economic policymaker in his home country, becoming governor of the Bank of Mexico in January of last year after previously serving as the bank's chief economist. He had a successful stint at the IMF from 2003 to 2006.Mr Carstens, 52, has spent most of his professional career as an economic policymaker in his home country, becoming governor of the Bank of Mexico in January of last year after previously serving as the bank's chief economist. He had a successful stint at the IMF from 2003 to 2006.

Gordon Brown

Gordon Brown

Former UK Prime MinisterFormer UK Prime Minister
BritishBritish
The 60-year old former UK prime minister and finance minister has long been seen as a candidate for the IMF job or another big international financial post. But his successor David Cameron - whose support he would need - has dismissed him as a "deficit denier", adding that it was time to look beyond Europe.The 60-year old former UK prime minister and finance minister has long been seen as a candidate for the IMF job or another big international financial post. But his successor David Cameron - whose support he would need - has dismissed him as a "deficit denier", adding that it was time to look beyond Europe.

Stanley Fischer

Israel's central bank governor
Israel/United States
Mr Fischer, 67, knows the IMF well having served as the first deputy managing director at the fund from 1994 to 2001. A world-renowned economist, he has written more than a dozen books and headed the prestigious economics department at the Massachusetts Institute of Technology.

Montek Singh Ahluwlia

Economic adviser to India's PM
India
Mr Ahluwalia, 67, is an influential economic adviser to Indian Prime Minister Manmohan Singh and has been a key figure in the country's economic reforms from the mid-1980s onwards. He supports open markets and has pushed the government to end fuel price controls and remove barriers to foreign business. His age may count against him.
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The list of potential candidates to replace Dominique Strauss-Kahn as head of the International Monetary Fund is growing fast amid a battle between central European and emerging economies over who should get the top job.The list of potential candidates to replace Dominique Strauss-Kahn as head of the International Monetary Fund is growing fast amid a battle between central European and emerging economies over who should get the top job.
Angela Merkel, the German chancellor, is among European leaders who favour a European for the post, but emerging economies are expected to fight hard for a chance to increase their influence on the global stage.Angela Merkel, the German chancellor, is among European leaders who favour a European for the post, but emerging economies are expected to fight hard for a chance to increase their influence on the global stage.
The list of names from European countries include the current French finance minister, Christine Lagarde and Germany's former banking chief Axel Weber.The list of names from European countries include the current French finance minister, Christine Lagarde and Germany's former banking chief Axel Weber.
From developing countries, South Africa's finance minister Trevor Manuel and Turkey's former minister of economic affairs, Kemal Dervis, have been widely mentioned.From developing countries, South Africa's finance minister Trevor Manuel and Turkey's former minister of economic affairs, Kemal Dervis, have been widely mentioned.
The IMF has been reforming its structure to give more power to countries outside the G7, but the current rules still give a stronger voice to richer countries.The IMF has been reforming its structure to give more power to countries outside the G7, but the current rules still give a stronger voice to richer countries.
Mrs Merkel said it was not the right time to change the status quo.Mrs Merkel said it was not the right time to change the status quo.
"Developing nations are within their rights in the medium term to occupy the post of either IMF head of World Bank chief. But I think that in the current situation, with serious problems with the euro and the IMF strongly involved, there is a lot in favour of a European candidate being put forward.""Developing nations are within their rights in the medium term to occupy the post of either IMF head of World Bank chief. But I think that in the current situation, with serious problems with the euro and the IMF strongly involved, there is a lot in favour of a European candidate being put forward."
The IMF has traditionally been led by a European, while the World Bank has had US leadership.The IMF has traditionally been led by a European, while the World Bank has had US leadership.
But developing countries, with increasing amounts of economic power, are unlikely to stand by.But developing countries, with increasing amounts of economic power, are unlikely to stand by.
The Brazilian Finance Minister,Guido Mantega, warned: "We must establish meritocracy, so that the person leading the IMF is selected for their merits and not for being European." The Brazilian Finance Minister, Guido Mantega, warned: "We must establish meritocracy, so that the person leading the IMF is selected for their merits and not for being European."
The managing director of the IMF is appointed by its 24 executive directors for a term of five years.The managing director of the IMF is appointed by its 24 executive directors for a term of five years.
They can nominate candidates from any member countries, not just their own. The final decision is likely to be reached by consensus as the IMF prefers this to formal votes.They can nominate candidates from any member countries, not just their own. The final decision is likely to be reached by consensus as the IMF prefers this to formal votes.
The US, Japan, Germany, France and the UK are all guaranteed directorships. The other 19 executive posts are elected by the remaining 182-member countries. The US, Japan, Germany, France and the UK are all guaranteed directorships. The other 19 executive posts are elected by the remaining 187 member countries.
Since the IMF's inception the system has given most of the power to the developed countries of the G7 - the US, UK, Germany, France, Canada, Italy and Japan.Since the IMF's inception the system has given most of the power to the developed countries of the G7 - the US, UK, Germany, France, Canada, Italy and Japan.
But recent changes mean there will soon be two fewer European board members to try to boost the powers of developing nations.But recent changes mean there will soon be two fewer European board members to try to boost the powers of developing nations.
Talented fieldTalented field
The IMF's current acting managing director, Mr Strauss-Kahn's deputy John Lipsky, has already said he will step down in August, when his term ends.The IMF's current acting managing director, Mr Strauss-Kahn's deputy John Lipsky, has already said he will step down in August, when his term ends.
Other possible European candidates include the former UK prime minister, Gordon Brown, and Peer Steinbrueck a former German finance minister.Other possible European candidates include the former UK prime minister, Gordon Brown, and Peer Steinbrueck a former German finance minister.
There is some support within Germany for anotehr European, the Swiss central banker, Philip Hildebrand.
According to former IMF official Eswar Prasad, potential candidates from developing world economies also include Singapore's finance minister Tharman Shanmugaratnam and Agustin Carstens of Mexico.According to former IMF official Eswar Prasad, potential candidates from developing world economies also include Singapore's finance minister Tharman Shanmugaratnam and Agustin Carstens of Mexico.
At this stage, the list is very tentative. Some names being touted are unlikely to even be considered.At this stage, the list is very tentative. Some names being touted are unlikely to even be considered.
IMF rules state that no one should be appointed to the post of managing director who is 65 or older and that no one should hold the post beyond the age of 70, something that seems to rule out the outgoing European Central Bank president, 68-year old Jean-Claude Trichet, Israel's central bank governor Stanley Fischer, who is 67 and Indian government adviser Montek Singh Ahluwalia, who is also 67.IMF rules state that no one should be appointed to the post of managing director who is 65 or older and that no one should hold the post beyond the age of 70, something that seems to rule out the outgoing European Central Bank president, 68-year old Jean-Claude Trichet, Israel's central bank governor Stanley Fischer, who is 67 and Indian government adviser Montek Singh Ahluwalia, who is also 67.
The BBC's economics editor, Stephanie Flanders, says the job is still most likely to go to a European, despite the pressure to give wider representation to newly powerful countries.The BBC's economics editor, Stephanie Flanders, says the job is still most likely to go to a European, despite the pressure to give wider representation to newly powerful countries.