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IMF: Fischer too old to be director

June 14, 2011 08:16
Stanley Fischer

ByJennifer Lipman, Jennifer Lipman

1 min read

The International Monetary Fund has blocked the candidacy of Israeli Stanley Fischer in the race to replace Dominique Strauss-Kahn.

Mr Fischer, who is 67, had hoped that the organisation would relax rules on its director being no older than 65. But the IMF refused to budge.

The Zambia-born economist, currently in his second term as governor of Israel's central bank, said he was disappointed but would "proudly" continue his work in Israel.

He said: "I think that the age restriction is not relevant today.