IMF Executive Board: Governors to Vote on Removing Age Limit for the Position of Managing Director

IMF News, August 21, 2019

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Canonical URL: IMF Executive Board: Governors to Vote on Removing Age Limit for the Position of Managing Director

The Executive Board has recommended that the IMF Board of Governors vote to remove the age limit that currently applies to the position of IMF Managing Director.
Since 1951, the IMF’s By-Laws have:
- prohibited the appointment of a candidate aged 65 or over as Managing Director, and
- prohibited the Managing Director from serving past his/her 70 th birthday.
Eliminating the age limit would align the Managing Director’s terms of appointment with those of:
- members of the IMF Executive Board, which the Managing Director chairs, and
- the President of the World Bank Group, who are not subject to an age limit.

The IMF Board of Governors represents the 189 member countries according to their voting shares.
Voting is scheduled to run from August 21 to September 4.
Adoption requirements:
- A simple majority of the votes cast is required to adopt the proposal, with a minimum participation requirement of a majority of Governors holding two-thirds of the total voting power.

The Executive Board is engaged in the selection of a successor to outgoing Managing Director Christine Lagarde, who will step down on September 12.
Nominations to the position close on September 6, 2019.
The Executive Board intends to complete the selection process by October 4.

IMF Communications Department
MEDIA RELATIONS
PRESS OFFICER:
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- @IMFSpokesperson

Press Release No. 19/316, August 21, 2019.