US wants "open process" for selecting new IMF boss

May 19, 2011, 15:48 GMT

Washington - The United States called for an 'open process' to select a replacement for former IMF chief Dominique Strauss-Kahn, who resigned the post after being charged in a sexual assault case in New York.

Treasury Secretary Timothy Geithner said the US is confident in the ability of John Lipsky to oversee the IMF with the departure of Strauss Kahn. The veteran French politician submitted his resignation late Wednesday.

'As managing director, John Lipsky will provide able and experienced leadership to the fund at this critical time for the global economy,' Geithner said.

'We want to see an open process that leads to a prompt succession for the fund's new managing director.'

Traditionally the IMF boss has been a European, while the head of the World Bank is reserved for Americans. The Brazilians, Chinese, and Indians, however, want that model changed to reflect the growing role their economies play in the world.

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