Press Release No. 11/243

Press Release: IMF Statement on the Executive Board’s Schedule of Interviews with Candidates for Managing Director

June 20, 2011

Mr. A. Shakour Shaalan, Dean of the Executive Board of the International Monetary Fund (IMF), issued the following statement today on the schedule of Executive Board meetings with the candidates for the Managing Director’s position:

“The next step in the process for the new Managing Director is now underway. Both candidates, Mr. Agustín Carstens and Ms. Christine Lagarde, will be meeting with the Executive Board this week. Mr. Carstens is visiting the Fund on June 20-21, and will meet with the Board on June 21. Ms. Lagarde is visiting on June 22-23, and will meet with the Board on June 23. During their visits, both candidates will also meet bilaterally with the Executive Directors.

“During their informal meetings with the Board, each candidate will present their views on issues facing the Fund and the membership, and the Executive Directors will be able to exchange views with the candidates. Candidates’ statements will be published on the Fund's website following these meetings.

“The Board is scheduled to meet early next week to discuss the strengths of each candidate, with the aim of completing the selection process by June 30. In terms of the selection process, although the Board may select a Managing Director by a majority of the votes cast, the Board’s objective is to select the Managing Director by consensus in a formal meeting.

“The final selection of the next Managing Director will be announced through a press release.”