The process will be "open, based on merits and transparent" and the agency expects to complete it on October 4 of this year. Due to her nomination to be president of the European Central Bank (ECB), Lagarde will leave her position as managing director of the IMF on 12 September.
The 24 members of the IMF executive board have the power to nominate candidates, as do the governors, who represent each of the institution's member countries. The deadline for submitting applications will begin on July 29 and end on September 6.
The ideal candidacy, according to the agency, is that of a person with "recognized experience" in economic policy, with an "exceptional" professional background and with diplomatic skills, who are "necessary to lead a global institution."
Once the final list of nominations has been selected, the executive board will meet with the candidates to "discuss their strengths" and make a final consensus decision.
. (tagsToTranslate) IMF (t) process (t) selection (t) succession (t) Lagarde