Spanish Ex-Minister Chosen to Head IMF
From Times Wire Reports
The International Monetary Fund’s executive board selected former Spanish Finance Minister Rodrigo Rato as the fund’s new managing director.
Rato will succeed Horst Koehler, who resigned March 4 to run for the presidency of Germany. Rato was selected by consensus for a five-year term, the IMF said.
Rato’s knowledge of Latin America will help in consultations with the fund’s two biggest borrowers, Brazil and Argentina, development groups said.
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