Spain's Vinals to succeed Caruana at IMF

Jose Vinals, a deputy governor at the Bank of Spain, is the new director of the International Monetary Fund's (IMF) monetary and capital markets department, replacing Jaime Caruana, now general manager of the Bank for International Settlements.

Dominique Strauss-Kahn, the managing director of the IMF, said on Wednesday: "Vinals has extensive experience and an exceptional record of accomplishments in academia, in the Bank of Spain, in the European Central Bank and other European central banking i