IMF Discusses New Candidate for Director

The International Monetary Fund held informal talks in Washington about a new managing director amid signs that new candidate Horst Koehler of Germany could face a softer ride than the ill-fated previous nominee. Sources said the IMF’s board held the latest in a series of weekly discussions on who might succeed France’s Michel Camdessus as IMF managing director. No one nominated additional candidates, but sources said a vote could be held as early as next week if Europe rallies quickly behind Koehler, a former German deputy finance minister who heads the European Bank for Reconstruction & Development. Koehler’s reception, including a prompt endorsement from France, was subtly different to that for Caio Koch-Weser, Germany’s first candidate for the top-flight international job. But the United States has yet to make its position clear. It is also not clear if other European finance ministers will support Koehler at their next meeting Monday, or if the bickering will again drag on for weeks or months.