The list of leading candidates for success of Christine Lagarde as head of the International Monetary Fund has shrunk to four eurozone officials, according to several senior European officials.
Finance ministers from the group of seven countries discussed the top players in the sidelines of the summit in Chantilly, France.
Ms. Lagarde, who has been nominated as the head of the European Central Bank, officially resigned to the IMF on Tuesday, paving the way for a successor in the coming months.
The four largest countries in Europe – Germany, France, Italy and the UK – are part of the rich G-7 group along with the United States, Canada and Japan. Their finance ministers will meet in Chantilly, France on Wednesday and Thursday to discuss issues such as taxation, cryptographic assets and inequality.
According to senior European officials, the ministers discussed the following candidates: Jerun Disselblum, former Dutch finance minister and former Eurogroup president, Eurozone finance ministers' club; Mario Centeno, current head of the Eurogroup and Finance Minister of Portugal; the Finnish central bank governor Olli Rehn and Nadia Calvino, the Spanish Minister of Economy and a former senior official of the European Union.
An officer said that Mr Carney, who also holds Irish and British citizenship, will not be considered because of his non-European origin. Another official said that the overriding reason is the desire to nominate a candidate from the eurozone community.
Although the IMF leadership is officially open to people from every country, the managing director has always been European throughout his 75-year history. As part of the unofficial agreement with Washington, Europeans support US choices to lead the World Bank in exchange for US support for IMF-preferred candidate in Europe
Several officials agreed that Britain is not taking a key role in the discussion of the next leader of the IMF IMF because he intends to leave the EU
"No one doubts Mark's excellent authority and competence, but there are other factors in choosing a European candidate," said an employee familiar with the discussions.
Another official spokesman said ministers had not agreed on a preferred candidate on Wednesday night but agreed to nominate him by the end of the month. According to officials from these countries, Deeselblum has the support of Germany and France, but in southern Europe he opposes his role of austerity during his mandate in the Eurogroup. Dijsselbloem's candidacy, Mr Rehn, former EU Commissioner for Economic and Monetary Affairs and the Euro, will be a natural candidate among the fiscally conservative nations like Germany.
Mr Centeno and Ms Calviño will have immediate support for southern Europe, the latter having the added advantage of being the only female candidate.
The IMF's election rules for the Executive Director provide that at the date of appointment, the current operator should not be older than 65 years.
A senior US Treasury official said Finance Minister Stephen Munchin is expected to take part in the discussions on Ms. Lagarde's successor, but with a range of candidates, it was premature for the United States to take a specific position in support one candidate.
Write to Boyan Panchevsky at email@example.com
Copyright © 2019 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8