Lemierre's re-election does not disqualify him from IMFslot

Frenchman Jean Lemierre has been re-elected president of the European Bank for Reconstruction and Development (EBRD).

His re-election does not disqualify him from becoming the head of the International Monetary Fund (IMF).

The other European Union candidate is Spain’s former economy minister, Rodrigo Rato. The IMF top job has traditionally gone to a European.

EU finance ministers had agreed during a meeting in Punchestown earlier this month to choose between Rato and Lemierre to succeed Koehler, for the vacancy created when he decided to step down from the IMF post to seek the German presidency.

A European monetary source said last week that the US was backing Rato for the top job.