Rato Will Be Next IMF MD

New Delhi, April 29 | Updated: Apr 30 2004, 05:30am hrs
Former Spanish finance minister Rodrigo Rato will take over as the next managing director of the International Monetary Fund (IMF). Mr Rato has the support of the European Union, the US and Latin American countries.

Initially five nominations were made for the post. Three withdrew, and Mr Rato and former IMF official Mohammad El-Erani were left in the fray. Mr El-Erani has dual nationality of Egypt and France.