The New President Of IMF Announced &Nbsp At The End Of June.

The nomination of the new president of the International Monetary Fund (IMF) began on the 23 day.

Christina Lagarde, Minister of the French Ministry of economy, finance and industry, is on the high side. Emerging markets are also unwilling to be outdone. Mexico announced that the governor of the central bank will join the president as a nominee.

Some analysts believe that if the European and American governments decide

According to the new president's election procedure reached on Friday by IMF, the nomination of the new President begins on Monday until the end of June 10th.

The candidate must confirm that he is willing to serve as president of IMF.

In mid June, the IMF Executive Board will narrow the list of candidates to three, and the remaining three candidates will be held before the vote.

Kahn, the former president of IMF, was arrested by the US New York police on suspicion of sexual assault on the 14 day. He then announced his resignation and said he would concentrate on proving innocence.

At present, Lagarde's popularity has topped the list. She has been supported by many European leaders.

British Chancellor of the exchequer Osborn said 21, Britain will support Lagarde to become the first IMF woman president.

German media reported two days ago that German Chancellor Merkel said that Europe basically agreed to support Lagarde as president of IMF.

However, some emerging economies hope that the selection of the president of this international organization will change and give more rights to developing members.

Mexico news agency reported 22 days ago that Mexico intends to elect president of Mexico central bank Agustin Carstens as IMF's new president.

Countries such as Australia and Brazil have also urged the selection of IMF presidents instead of making decisions based on nationality.

Under the existing rules, the IMF executive board, composed of 24 members, will weigh the share of each member and vote for the new president.

Over the years, the American presidents of the world bank and the Europeans are in charge of IMF.

Edwin Truman, a former Federal Reserve and Treasury official and a senior researcher at the current Pedersen Institute for international economics, refutes the Europeans' best view to help IMF deal with European banks and sovereign debt crises. He said: "during the Latin American debt crisis in 1980s, IMF did not say that the organization should be led by Latin Americans."