Turkey to Monitor Developments Before Deciding Who to Back for IMF Chief

Turkey has yet to decide on upcoming International Monetary Fund, or IMF, selection process to name a new managing-director to succeed Dominique Strauss-Kahn who quit after his arrest over a sex scandal last month.

Turkey’s Deputy Prime Minister & Economy Minister Ali Babacan said Friday that Turkey would keep monitoring developments for a while more as nomination process will close later in the day.

“French Economy and Finance Minister Christine Lagarde and Mexico’s Central Bank Governor Agustin Carstens have so far talked with us,” Babacan told private NTV channel.

“I have good personal relations with both candidates. They are both skilled enough to perform this job successfully,” Babacan said. “They both have asked support from us but we have not made a decision yet.”

According to selection process for a new IMF chief, Fund’s Executive Board will interview three shortlisted candidates in Washington to make a selection. Although the Executive Board may select a Managing Director by a majority of the votes cast, or his/her strength, the objective of the Executive Board is to select the Managing Director by consensus with the objective of completing the selection process by June 30, 2011.

11 June 2011