IMF says board to meet June 28 to select new chief

WASHINGTON Mon Jun 20, 2011 6:38pm EDT

French Finance Minister Christine Lagarde looks on during an extraordinary eurozone finance ministers meeting at the EU Council in Brussels June 14, 2011, to discuss Greece's fiscal adjustment program. REUTERS/Francois Lenoir

French Finance Minister Christine Lagarde looks on during an extraordinary eurozone finance ministers meeting at the EU Council in Brussels June 14, 2011, to discuss Greece's fiscal adjustment program.

Credit: Reuters/Francois Lenoir

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WASHINGTON (Reuters) - The International Monetary Fund said on Monday its executive board will meet on June 28 to discuss the strengths of the two candidates for managing director, with the aim of completing its selection by June 30.

The fund said in a statement that Mexican central bank governor Augustin Carstens is visiting the fund on Monday and Tuesday of this week for a series of interviews, while French Finance Minister Christine Lagarde will visit on Wednesday and Thursday.

Both are vying to replace Dominique Strauss-Kahn, who resigned as IMF chief last month on after being charged with sexually assaulting a New York hotel maid -- an allegation he denies.

Lagarde is considered the favorite, but some officials from emerging market countries have called for an end to the tradition of naming a European to head the global rescue lender.

"In terms of the selection process, although the board may select a managing director by a majority of the votes cast, the board's objective is to select the managing director by consensus in a formal meeting," the statement from an IMF spokesperson said.

The candidates will meet both with the executive board as a group as well as individually with country executive directors.

The IMF said it would publish the candidates' statements to the board on its website after the meetings. It also said it will announce the final selection of the next managing director through a press release. (Reporting by David Lawder, Editing by Gary Crosse)

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