> Times of London - November 11, 1999
>
> US threatens intervention in race to lead the IMF
>
> BY BEN MACINTYRE
>
> THE United States has hinted that it plans to intervene in the selection
> of a successor to Michel Camdessus as head of the International Monetary
> Fund (IMF), a move that could spark a fierce tussle between Washington and
> Europe over leadership of the agency.
>
> The post, which M Camdessus will vacate early next year, has traditionally
> been held by a European, in a quid pro quo agreement that gives the US
> discretion in appointing the head of the IMF's sister institution, the
> World Bank.
>
> However, with the IMF at a turning point in its history, "all bets may be
> off", in the words of one administration official, and the US Treasury has
> indicated that the US is angling to play a much more active part in the
> selection process.
>
> "This is a very important decision for the Fund at a very important time.
> The stakes are higher now because the Fund's profile is so much higher," a
> senior US Treasury official told The New York Times, which reported that
> the US was "not necessarily ready to back a European".
>
> Among the contenders to replace M Camdessus, who announced his resignation
> on Tuesday after nearly 13 years in the post, are Caio Koch-Weser, a
> German Deputy Finance Minister and former managing director of the World
> Bank, and Andrew Crockett, of Britain, the head of the Bank for
> International Settlements in Switzerland. Others include Mervyn King,
> Deputy Governor of the Bank of England, and Horst Köhler, the German head
> of the European Bank for Reconstruction and Development.