IMF Chief Quits, Seeks German Presidency

International Monetary Fund chief Horst Koehler said in Washington that he was quitting to accept the conservative nomination for the mostly ceremonial German presidency.

Since the conservative parties hold a majority in the assembly that will choose the next president May 23, nomination virtually assures victory. The post would put Koehler, 61, at the center of fresh attacks on the economic record of Chancellor Gerhard Schroeder, a Social Democrat. Koehler, a Christian Democrat, held a Finance Ministry post for a decade.