Thursday, September 20, 2007

IMF: U.S. Announces Its Support for Strauss-Kahn

Ever since the EU endorsed Dominique Strauss-Kahn (DSK) for the position of managing director of the IMF, the United States has played it coy regarding its support for DSK. There was little doubt that the United States would come through in the end (especially when the only other candidate was nominated by Russia), but for reasons about which we can only speculate the Treasury Department waited to make its endorsement public. Yesterday, the wait ended. In a statement, Treasury Secretary Paulson "urge[d] the Board to positively consider the candidacy of Dominique Strauss-Kahn to succeed Rodrigo de Rato." The statement's timing was not random. The IMF Executive Board is interviewing the two managing director candidates this week. And DSK's interview will take place today. The Executive Board has not announced when it will make a decision, but one imagines that it will be soon, as Rodrigo de Rato intends to leave the IMF at the conclusion of the World Bank Group-IMF Annual Meetings, which begin a month from today. With U.S. support, though, there is no doubt that DSK will get the nod.