IMF rejects Israeli Central Bank Governor

The International Monetary Fund do not approve the Governor of Central Bank of the desire of Israel, Stanley Fischer, as candidates for executive director of the leading financial institutions. The reason, Fischer has passed the maximum age limit as IMF managing director.

According to the daily The Wall Street Journal, the decision was made Monday night, Washington time (early Tuesday GMT). Thus, now only two candidates competing as executive director of the IMF, the French Finance Minister, Christine Lagarde, and the Governor of Central Bank of Mexico, Agustin Carstens.

Fund Management does not directly mention their rejection of the nomination Fischer. However, the IMF declared candidate must "meet the criteria established the IMF."

One of the criteria is related to age. Fischer is now 67 years old, while the maximum age limit for candidates for the IMF managing director is 65 years old.

IMF Executive Board will meet states each candidate in Washington DC. The limb then discussed to determine where the right candidate to lead the IMF. Selection is scheduled on 30 June.

Many parties, including the Minister of Finance of Indonesia, sponsor Lagarde as new IMF managing director, replacing Dominique Strauss-Khan, who was forced to resign after a trail of sexual assault and rape cases in New York.

In fact, Carstens also told the newspaper The Financial Times claims hard to win the competition of Lagarde. Because, Lagarde has received strong support from European countries and from some developing countries.