UK wants more open selection for IMF head

Britain yesterday called for a more open selection process for the job of head of the International Monetary Fund, hinting it might back moves to break Europe's stranglehold on the post.

The Treasury refused to say whether it would support Jean Lemierre, the head of the European Bank for Reconstruction and Development, who has won the support of France and Germany according to weekend reports.

The post has been vacant since Horst Kohler announced this month that he was standing down early as managing director of the financial watchdog to seek the nomination as the next president of Germany.

All the heads of the IMF, since it was established in 1947, have been European as part of an unwritten agreement with the United States, which has always taken the top job at the World Bank.

So far Rodrigo Rato, Spain's outgoing finance minister, has emerged as the only official candidate but attention has shifted to Mr Lemierre after Mr Rato won little support. A spokesman for the UK Treasury said there were ongoing discussions within the IMF about the selection process. "We want the process to be more open consultative but there is currently no agreement going forward."

Asked whether Britain would support Mr Lemierre's nomination, he said: "We recognise the importance of the job and we want the strongest possible candidate with the broadest consensus behind them and there are a number of excellent candidates."

There was speculation that Gordon Brown would be interested in the job given his seven years as chairman of the IMF's international monetary and financial committee. However the Treasury has sought to dampen down the rumours.

An IMF spokesman said selecting a new managing director was down to the fund's 184 country members.