Stan Fischer would make an excellent Director General of the IMF

The Governor of the Central Bank of Israel, Stanley Fischer, announced Saturday that it applied the position of Director General of the IMF, posing in rival very seriously the favorite Christine Lagarde.

This application complements that of the Governor of the Bank of the Mexico, Agustin Carstens, and just complicate the task of the French Minister of economy and finance.

Christine Lagarde was Saturday in Saudi Arabia to convince them of the merits of his candidacy for the position vacated by Dominique Strauss-Kahn accused of assault on an employee of hotel and arrested may 14 in New York.

This vacancy "has caused an extraordinary and unexpected opportunity, an opportunity which perhaps will arise ever, to be a candidate in the leadership of the IMF, that after a long reflection I have decided to make", explained Fischer in a statement.

Fischer, who has received the support of the Israeli Minister of finance, Yuval Steinitz, said be aware of the fact that it was a process complicated and disrupted potential pitfalls, but that this did not constitute an obstacle to its decision.

Originally from Zambia, Stanley Fischer, 67 years old, held the position of Deputy Executive Director of the IMF between 1994 and 2001 and is considered as one of the artisans of the resistance of the Israeli in the 2008 financial crisis economy.

He made 10 times to bearings of interest rates to contain inflation and ensure economic growth of his country to be 4.5 in 2011.

UNCERTAINTY ABOUT THE US

Fischer has several disadvantages to begin his age. The regulations of the IMF set at 65 the maximum age to be elected to the position of Director and 70 years maximum age to hold this position.

The Israeli nationality of Fischer might, on the other hand, he submitted an objection on the part of the Arab countries. "Because of my experience, I think that I can make my contribution to the IMF, central entity of the global economy, and help the global economy after the crisis," said Fischer, opposed to the election of a European head of the IMF.

The French Minister of economy, Christine Lagarde, supported by the European Union, is favorite to move to the Chair of Director-General.

Christine Lagarde was found Saturday on a visit to Saudi Arabia and met with his Saudi counterpart in its campaign to rally for votes.

"Saudi Arabia played an important role in the global economy", Ibrahim Alassaf commented to the press. "We will ask for a strengthening of the role and the part of the Kingdom in the IMF", he added.

If it has the support of the Europeans, Lagarde must attempt to rally to his candidacy the Chinese and Americans while the South African Trevor Manuel withdrew from the race Friday.

Fischer may, count on us sympathies as well as its proximity to the patron of the Federal Reserve, Ben Bernanke, which he was Counsellor.

Among the emerging powers, the Brazil would be inclined to favour Lagarde, but the first economy of Latin America has not yet made its position, stated an official Friday.

Economist Nouriel Roubini, Stanley Fischer has the qualifications to lead the IMF but it was too later for hope ahead Christine Lagarde. "Stan Fischer would make an excellent Director General of the IMF." Support, success this late stage.