CHANTILLY, France: US Treasury Secretary Steven Mnuchin said on Thursday that there are some"very good" European candidates to head the International Monetary Fund, but he is not taking for granted the tradition of European leadership at the institution.
Mnuchin holds strong sway over the choice of a new IMF leader because he oversees the United States' 16.52 per cent voting share on the Fund's board, creating an effective US veto over major decisions.Lagarde tendered her resignation from the IMF on Tuesday, citing more clarity about her nomination to become president of the European Central Bank.
Mnuchin's top international official at Treasury, David Malpass, was approved in April as president of the World Bank after his nomination by US President Donald Trump, with unanimous support from European and emerging market countries. "Having said that, we appreciated the support for David Malpass and obviously we’re going to work with all of our counterparts on getting the best person for the job.”On Thursday in Chantilly, senior European officials said that one potential candidate viewed as well qualified, Bank of England governor Mark Carney, appeared out of the running.
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