Marchenko estimated his chances to lead IMF as "not very high"

Gregory Marchenko. Photo by Vladimir Dmitriyev©

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 reports. As per Marchenko, the chances are not high, as major developing countries have not yet decided on a joint candidate for the position. Marchenko said that if BRIC countries choose to support another candidate with a higher potential to succeed as the IMF head, he would eagerly call everyone to vote for this candidate. Marchenko added that if the representative from developing countries does not become a head of the IMF this time, they will need to carefully prepare for the next election of the fund's leader in five years. Marchenko said that 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. Earlier President of Russia Dmitry Medvedev said that the consensus had been achieved on the candidate to head the IMF. He emphasized that other countries also have the right to put forth their candidates for the IMF leadership. The IMF started preparing a list of candidates on May 23. Each member country will be able to suggest its candidate. It is expected that the name of the new head of the IMF will be announced by the end of June.

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 reports. As per Marchenko, the chances are not high, as major developing countries have not yet decided on a joint candidate for the position. Marchenko said that if BRIC countries choose to support another candidate with a higher potential to succeed as the IMF head, he would eagerly call everyone to vote for this candidate. Marchenko added that if the representative from developing countries does not become a head of the IMF this time, they will need to carefully prepare for the next election of the fund's leader in five years. Marchenko said that 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. Earlier President of Russia Dmitry Medvedev said that the consensus had been achieved on the candidate to head the IMF. He emphasized that other countries also have the right to put forth their candidates for the IMF leadership. The IMF started preparing a list of candidates on May 23. Each member country will be able to suggest its candidate. It is expected that the name of the new head of the IMF will be announced by the end of June.

Marchenko Kazakhstan Kazakh International Monetary Fund IMF