IMF gets another European head

Washington, Sep 29 | Updated: Sep 30 2007, 08:47am hrs
Dominique Strauss-Kahn, a former French finance minister, was confirmed as the new head of the International Monetary Fund (IMF) on Friday, continuing a six-decade tradition of a European leading the world body.

The decision in Washington by the IMFs 24-member board of member countries was made in two stages and included a secret straw poll followed by a formal vote. Board officials, speaking on condition of anonymity, said it was obvious going into Fridays vote that Strauss-Kahn held a clear majority over Russia's nominee, former Czech prime minister and central bank governor, Josef Tosovsky. Strauss-Kahn will begin his five-year term on November 1, succeeding Spaniard Rodrigo Rato, who announced in July he would step down after the IMFs fall meeting in mid-October. Reuters

The executive board of the International Monetary Fund has just chosen me to succeed Rodrigo de Rato as managing director, Strauss-Kahn said in a statement.

Reuters