IMF Board Aims to Select New Leader by June 30

The International Monetary Fund said it aims to complete the selection of a
successor to Dominique Strauss-Kahn by June 30.

Countries will be able to nominate candidates for the managing director's
position between May 23 and June 10, the Washington-based IMF said in a
statement today. The board will meet with all candidates if there are fewer
than four and with a short list if there are more.

The procedure "allows the selection of the next managing director to take
place in an open, merit-based, and transparent manner," said Shakour
Shaalan, the senior member of the 24- person board.

The IMF said the board's objective is to select the managing director by
consensus.

French Finance Minister Christine Lagarde emerged as the leading contender
to replace Strauss-Kahn, who was indicted yesterday on charges including
attempted rape, as European officials moved to maintain control over the
institution.

Officials in emerging markets including Thailand, Russia and South Africa
said the next IMF managing director should come from a developing nation
even as they failed to unite behind one candidate the way Europe coalesced
around Lagarde.