Strauss-Kahn (l), Tosovsky: IMF Board will select candidate to succeed de Rato (photos: SIPA; Bazuki Muhammad/Reuters)
MANAGING DIRECTOR NOMINATIONS
The IMF Executive Board will interview the candidates in September and then meet to select the successor to de Rato. The new head of the IMF will take over when de Rato leaves the institution after the 2007 IMF-World Bank Annual Meetings.
Strauss-Kahn, 58, a former French finance minister and candidate earlier this year for the Socialist Party nomination for president of France, was adopted July 10 as the EU's candidate to head the IMF. Strauss-Kahn headed the French finance ministry from 1997 to 1999 and also served as industry minister from 1991 to 1993.
Tosovsky, 56, a former prime minister of the Czech Republic currently heading the Financial Stability Institute at the Bank for International Settlements, was nominated by Russia on August 22. Tosovsky was twice head of the Czech central bank, from 1993 to 1997 and again from 1998 to 2000, and served as prime minister in 1998.
The IMF Executive Board said in a statement: "Mr. Strauss-Kahn, a French national and former Finance Minister of France, was nominated by the Executive Director for Germany, Mr. Klaus Stein, on behalf of the Executive Directors representing the countries of the European Union. Mr. Tosovsky, a Czech national and former Prime Minister and Central Bank Governor of the Czech Republic, was nominated by the Executive Director for the Russian Federation, Mr. Aleksei Mozhin.
"The Executive Board will consider the candidates on the basis of their professional record and qualifications (see Press Release No. 07/159). During the coming month, the Executive Board intends to interview the candidates in Washington, D.C. and, thereafter, meet to discuss the strengths of the candidates and make a selection."
De Rato, who was appointed Managing Director in 2004, announced in June that he intends to leave the Fund in October following the 2007 Annual Meetings.
