Who are the five candidates to replace Christine Lagarde at the IMF?

The International Monetary Fund will designate the next October 4th to your new general manager. The European Union has already selected five candidates among whom the French news, Christine Lagarde, will be appointed President of the Central Bank of the Old Continent in the coming months.

As reported by international news agencies, France has presented to the EU countries a list of five names, among which the Spanish Minister of Economy, Nadia Calviño and the president of the Eurogroup, the Portuguese Mario Rye. The former Dutch president of this entity will also aspire to occupy this post, Jeroen Dijsselbloem; the governor of the Finnish central bank, Olli Rehn; and the executive director of the World Bank, the Bulgarian Kristalina Georgieva.

The French Minister of the Economy and Finance, Bruno Le Maire, in charge of coordinating the work for the designation of a single candidate for the IMF, will call from this week all his peers in the euro zone at choose a name. Traditionally, the Fund is an agency chaired by an official of European origin, while the World Bank is headed by an American.

According to the agency EFEThe Mayor, in close contact with his German counterpart, Olaf Scholz, has spoken this week with ministers – including the new British title Sajid Javid – to reach a consensus and designate a single candidate who has "a great deal of international experience and proven technical skills".

After having chosen the five finalists and informed the other EU Member States, the French will open a second and final phase of consultation. In addition, the community ministers agreed to promote a change of rules within the IMF on the age limit to perform the duties of executive director, a debate that took place within the board of directors of this organization.

This change in the standard which states that the President of the IMF must be less than 65 at the time of appointment would specifically affect Bulgarian Bulgaria, Georgieva, which at the moment could not qualify for the post having already reached that age ( born in 1953).

The IMF's Executive Board announced Friday the start of a process "open and merit-based" choose Lagarde's successor, with the goal of being named on October 4. "The Board of Directors announced today that it has adopted a selection process for its next open general manager, based on merit and transparency, similar to that used in recent rounds." said the institution in a statement.

This will underline, he added, "the importance for the chosen candidate of having the global presence required to run the Fund, which is at the center of the global financial system". The deadline for receipt of applications will be 29 July to 6 September. The goal is to complete the process on Oct. 4 with the announcement of the new director of the international financial institution.