New IMF head will be 'effective, energetic and experienced'

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Acting Managing Director of the International Monetary Fund (IMF) John Lipsky said Thursday that he is confident the IMF will choose an effective, energetic and experienced leader.

Lipsky made the remarks in an exclusive interview with Xinhua in Beijing. He said the selection will be open, transparent and merit-based and the result will be disclosed by June 30.

Candidate nomination is the responsibility of IMF's 187 member countries, and the candidates will be interviewed by the 24-chair executive board, Lipsky said.

He noted some of the IMF's management team come from developing countries, citing the special advisor of the managing director Zhu Min, who comes from China.

The nomination process will conclude on June 10, after which the executive board will select three candidates to compete for the position of managing director, he said.

Lipsky is in Beijing for a routine consultation on the Chinese economy.

The selection of the IMF's new head has drawn attention from developing countries. Previously, only the IMF's executive board was entitled to nominate candidates.

In Wednesday's meeting with Mexican Central Bank governor Agustin Carstens in Rio De Janeiro, Brazilian Finance Minister Guido Mantega said it is important to have someone from an emerging economy to head the IMF.

Agustin Carstens is a candidate for the IMF's top job.

French Finance Minister Christine Lagarde, another front runner in the race, is in Beijing to seek support for her candidacy.

Former IMF Managing Director Dominique Strauss-Kahn resigned last month after he was arrested on charge of sexually assaulting a hotel maid in New York. John Lipsky, 64, will retire from his post at the Washington-based financial agency at the end of August.

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