This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-13421068
The article has changed 20 times. There is an RSS feed of changes available.
| Version 9 | Version 10 |
|---|---|
| Strauss-Kahn resigns: Global fight for IMF top job | Strauss-Kahn resigns: Global fight for IMF top job |
| (about 2 hours 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 them | |
| Israel's central bank governor | Israel's central bank governor |
| Israel/United States | 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. | 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. |
| CEO of bond investor PIMCO | CEO of bond investor PIMCO |
| Israel/US/Egypt/France | 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. | 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. |
| Former German finance minister | Former German finance minister |
| Germany | Germany |
| 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. |
| Former head of Bundesbank | Former head of Bundesbank |
| Germany | Germany |
| 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. |
| Economic adviser to India's PM | Economic adviser to India's PM |
| India | 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. | 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. |
| Former economy minister | Former economy minister |
| Turkey | Turkey |
| 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. |
| French finance minister | French finance minister |
| France | 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. | 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. |
| Ex Finance minister | Ex Finance minister |
| South Africa | South 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. |
| Governor Bank of Mexico | Governor Bank of Mexico |
| Mexico | Mexico |
| 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. |
| Former UK Prime Minister | Former UK Prime Minister |
| British | British |
| 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. |
| BACK {current} of {total} NEXT | BACK {current} of {total} NEXT |
| The resignation of Dominique Strauss-Kahn has left a vacancy at the top of the International Monetary Fund, and analysts say emerging economies are expected to fight hard for a chance to increase their influence on the global stage. | |
| That could pit the fast-growing markets of Asia and Latin America against Europe. | |
| European officials, however, say the debt problems in the region mean the replacement for Mr Strauss-Kahn should come from Europe. | |
| South Africa's finance minister has called for someone from a developing country to be given the opportunity to run the IMF. | South Africa's finance minister has called for someone from a developing country to be given the opportunity to run the IMF. |
| "Such a candidate will bring a new perspective that will ensure that the interests of all countries, both developed and developing, are fully reflected in the operations and policies of the IMF," said Pravin Gordhan. | "Such a candidate will bring a new perspective that will ensure that the interests of all countries, both developed and developing, are fully reflected in the operations and policies of the IMF," said Pravin Gordhan. |
| The IMF has traditionally been led by a European, while the World Bank has had US leadership. | |
| "There is growing disquiet, particularly among emerging nations, about this division of roles," said Jan Randolph, head of sovereign risk analysis at IHS Global Insight. | "There is growing disquiet, particularly among emerging nations, about this division of roles," said Jan Randolph, head of sovereign risk analysis at IHS Global Insight. |
| He says China could use its influence to support an emerging market candidate for the top IMF job. | He says China could use its influence to support an emerging market candidate for the top IMF job. |
| "China is the biggest new IMF bondholder. Its huge financial contribution in 2008 effectively tripled the size of the IMF's lending power during the financial crisis." | "China is the biggest new IMF bondholder. Its huge financial contribution in 2008 effectively tripled the size of the IMF's lending power during the financial crisis." |
| That financial might is coming into focus as developing countries start taking a larger share of the global economy. | That financial might is coming into focus as developing countries start taking a larger share of the global economy. |
| The 187-member countries of the IMF have weighted votes. Since the body's inception this system has given most of the power to the developed countries of the G7 - the US, UK, Germany, France, Canada, Italy and Japan - although the organisation has been trying to reform its voting system to better reflect the shape of the world economy today. | |
| The managing director of the IMF is confirmed by its executive directors, who in turn are appointed or elected by member countries. | |
| Talented field | Talented field |
| A number of names of potential candidates for the top job are already in circulation. | |
| 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 highest-profile potential candidate for the job is France's finance minister, Christine Lagarde. | The highest-profile potential candidate for the job is France's finance minister, Christine Lagarde. |
| Other possible developed world candidates include the former UK prime minister, Gordon Brown, the outgoing European Central Bank president, Jean-Claude Trichet, the former head of the German central bank, Axel Weber, and Peer Steinbrueck, a former German finance minister. | |
| According to former IMF official Eswar Prasad, potential candidates from developing world economies include Singapore's finance minister Tharman Shanmugaratnam, former South African finance minister Trevor Manuel, and Turkey's former minister of economic affairs, Kemal Dervis. | |
| Others include Israel's central bank governor, Stanley Fischer, who has held a senior post at the IMF in the past, Mohamed El-Erian, who has also worked for the IMF and is now the chief executive of the bond-investing powerhouse Pimco, and Montek Singh Ahluwalia of India and Agustin Carstens of Mexico. | |
| 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. |