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Gregory Marchenko, Chairman of Kazakhstan’s Central Bank, withdraws his candidacy to head IMF

11 june 2011, 00:14
0
Gregory Marchenko. ©Vladimir Dmitryev
Gregory Marchenko. ©Vladimir Dmitryev
Gregory Marchenko, Chairman of Kazakhstan's central bank, told CNN Friday he is withdrawing his bid to head the International Monetary Fund.

According to him, it is "more or less obvious" that the job will go to French Financial Minister Christine Lagarde.

Chairman of Kazakhstan National Bank Gregory Marchenko estimated his chances to become a new head of the International Monetary Fund (IMF) as “not very high”, RBC reported late May. Marchenko said at the time that the French Finance Minister Christine Lagarde is a “very strong candidate”. He also noted that if a woman has to lead the IMF, there are worthy managers of financial institutions in developing countries.

May 23 the Finance Minister of the Russian Federation Aleksei Kudrin announced that the official Moscow supported the candidacy of the Chairman of Kazakhstan National Bank Gregory Marchenko to lead IMF, but would consult BRIC countries before the final decision on the candidate was taken, Interfax-Kazakhstan reported.

"I appreciate him very much. He is a world level expert. But all the IMF countries will have to agree on one person at the end of the election process. I think participation of Marchenko is a quite positive development for a start,” Kudrin said.

The International Monetary Fund head Dominique Strauss-Kahn resigned after being accused of sexually assaulting a maid in New York hotel. Kazakhstan’s Prime Minister Karim Massimov suggested Gregory Marchenko as a candidate to head the IMF at the Summit of the CIS (Commonwealth of independent States) Heads of Government in Minsk. The Council supported his candidacy.

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