Governor of the Bank of Israel Stanley Fischer is considering a bid to head the IMF. The "Wall Street Journal" reports that Fischer "is examining a formal bid to head the International Monetary Fund, and figures he has an outside shot at the job if there is a deadlock in the voting, said an official familiar with his thinking."
The "Wall Street Journal" describes Fischer as a "long shot," and adds "While he's widely respected among central bankers and finance ministers, his current position as Israel's central bank governor would make it tough to win the support of Arab nations and other emerging-market countries, said one Arab official who has worked with Mr. Fischer."
However, the newspaper then countered this with a quote from former head of the Palestinian Monetary Authority, George Abed who said "Mr. Fischer is the most qualified of all the candidates that I have seen mentioned in the media so far. He is pragmatic, politically savvy, and a skilled manager."
But the "Washington Post" in an article entitled "Why Israeli central banker Stanley Fischer will/won't head the IMF," Ariana Eunjung Cha writes that he might not get the job because, "He holds an Israeli passport, which raises all sorts of issues that countries may want to sidestep in the debate over a candidate."
She also points out that he is 67 and IMF rules state that the managing director should be 65 or younger.
Nominations for IMF head close on June 10.
French Finance Minister Christine Lagarde is the strong favorite to replace the disgraced former head of the IMF Dominique Strauss Kahn when the elections take place at the end of June. Israel's Minister of Finance Yuval Steinitz has said that he backs Lagarde providing Fischer does not run.
Published by Globes, Israel business news - www.globes-online.com - on May 29, 2011
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