Lipsky’s position of first deputy managing director has been traditionally held by a U.S. citizen. The two other deputy managing
directors are Japanese and Egyptian. A Chinese citizen was named special adviser to Strauss-Kahn last year.For “only a truly extraordinary candidate now has any chance,” Jacob Kirkegaard, a research fellow at the Peterson Institute for International Economics in Washington, said in an interview. He named French Finance Minister as one such person, saying she might be “brought into play not as
another European candidate but as the first female head of the IMF.”
Even so, “the ball is in the court of the emerging markets because they really have to come up with a strong candidate that they can unify behind, and that’s going to be very tricky,” he said.
Emerging markets argue that having a greater say in the 187-member IMF would make them less prone to accumulate foreign currency reserves as
insurance against a crisis and turn to the IMF for help instead, said Bessma Momani, a professor in the department of political science at the University of Waterloo in
who specializes in the IMF and its policies.
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