13 Jun 2011

Israeli offical seeks IMF post

6:03 am on 13 June 2011

Bank of Israel governor Stanley Fischer has joined the race to be the next head of the International Monetary Fund.

He joins French Finance Minister Christine Lagarde and Mexico's central bank governor Agustin Carstens in seeking the post of managing director at the IMF.

BBC correspondents say Mr Fischer, 67, may present a serious challenge to Ms Lagarde despite being two years older than the current age limit for IMF leaders to take up the post.

In the event of a deadlock between the front-runners, he might be seen as a compromise candidate.

Kazakhstan central bank chief Grigory Marchenko withdrew on Friday, saying it was obvious that Ms Lagarde would get the job.

Former South African Finance Minister Trevor Manuel also ruled himself out on Friday.

The final selection is expected to be announced by 30 June.