Belfast Telegraph

Two candidates remain in running for IMF's top post

France's Christine Lagarde and Mexico's Agustin Carstens are the two remaining candidates to be the managing director of the International Monetary Fund.

Israel's central banker, a former number two at the IMF, said he has been disqualified from the race for the group's top job because of his age.

At 67, Bank of Israel Governor Stanley Fischer is two years above the age limit of 65 that the IMF has set for an incoming managing director.

In a statement, Mr Fischer expressed regret that the IMF board decided not to change its rules to allow him to run.

He said his experience had made him a natural candidate to head the IMF at a time of ongoing challenges for the global economy. He called the age limit "irrelevant today".

In a statement from Washington, the IMF said that it would consider two candidates for the post - front-runner Ms Lagarde, the French finance minister, and Mr Carstens, Mexico's central bank chief.

The IMF's last chief, Dominique Strauss-Kahn, resigned last month after his arrest on sexual assault charges in New York. He has pleaded not guilty.