US rejects German candidate for IMF MD

Fischer has been nominated by African nations and endorsed by other non-aligned countries, including India and Mexico. White House Press secretary Joe Lockhart, rejecting the Brazil-born German, who began his career with the World Bank in 1973, said President Bill Clinton spoke to Chancellor Schroeder over telephone on Saturday and stressed quot;the need for a strong candidate for the post of IMF MD of maximum stature who would be able to command broad support from around the world.quot;

In that context, said Lockhart, the President told Schroeder that quot;the United States is not prepared to support the German candidate.quot;

quot;The US position remains to work with Europe to find a strong European candidate who is able to command broad support, including from the emerging markets countries,quot; Lockhart said.

Asked if the US is backing US national Stanley Fischer, who is the acting IMF director, and was nominated by a group of African countries, Lockhart said,quot;Our position is that there should be a European candidate that commands strong support.quot;

Europe, under an arrangement at the end of World War II with the US, provides the Fund with its Managing Director and the European Union has endorsed Koch-Weser.

Meanwhile, Caio Koch-Weser8217;s candidature gained Europe8217;s support yesterday after Schroeder personally campaigned on behalf of the German-Brazilian World Bank veteran, ignoring direct opposition from U S President Bill Clinton to get the European Union to back his candidate to head the International Monetary Fund.

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