FT Alphaville is a little bit late to this appreciation of the outgoing Bank of Israel governor (and former deputy IMF managing director), penned by Peter Doyle — also formerly of the IMF.
But we think it should be read far and wide. (Click for the full doc) Read more
We don’t know his plans, but the Bank of Israel’s much lauded head, Stanley Fischer, may soon join the increasingly globally
poachable mobile labour market for CB heads. He’s a free man from the end of June… and we hear there’s an opening in Canada. Read more
The board of the IMF has blocked the application of Stanley Fischer, governor of the Bank of Israel, to head the organisation, leaving only two candidates in contention, the FT reports. The candidacy of Fischer, 67, who announced his decision to run for the position of managing director on Saturday, would have required IMF members to waive a requirement that applicants be younger than 65. MarketWatch adds that the IMF will now consider Christine Lagarde and Agustin Carstens for the top job.
Stanley Fischer, governor of the Bank of Israel, has had his application to head the IMF blocked, the FT says, leaving only two candidates in contention. The candidacy of Mr Fischer, 67, who announced his decision to run for the position of managing director on Saturday, would have required IMF members to waive a requirement that applicants be younger than 65. The board decided not to accept that request, with some of the rich economies arguing that his candidature would confuse and delay the process. The decision leaves Christine Lagarde, the French finance minister, and Agustin Carstens, Mexico’s central bank governor, as the lead candidates.
The late entry of Stanley Fischer into the race to succeed Dominique Strauss-Kahn as head of the International Monetary Fund has come as something of a surprise, writes the FT. Though very popular with fund staff during his time as second-in-command there from 1994 to 2001, both his close association with the US and controversy about decisions taken during his tenure may tell against him. Because Mr Fischer is 67, the IMF would also need to take a special vote among all its 187 member countries to waive the below-65 age requirement to be appointed to the job.
Stanley Fischer, the Israeli central bank governor, made a surprise entry to the race to become the next managing director of the International Monetary Fund, as the two existing candidates fight to boost their credibility with emerging market countries, the FT says. Fischer, previously a second-in-command at the IMF, made public his decision on Saturday shortly after nominations closed, to the surprise of several emerging markets. The Jerusalem Post says Fischer’s candidacy is currently seen as a long-shot behind French Finance Minister Christine Lagarde. Meanwhile, Fischer noted in an interview with the WSJ that “without having that [economic] training, it’s very hard to know who’s right and who’s wrong” at the IMF.
No, you could not make it up, as FT Alphaville previously noted.
News of the weekend arrest of IMF managing director Dominique Strauss-Kahn gave blogs and news media organisations an eventful Sunday night as more information emerged about the circumstances allegedly leading to Strauss-Kahn’s arrest. Read more