IMF to name new Managing Director Tuesday

The International Monetary Fund will announce its next managing director on Tuesday 4 May, board sources said on Thursday, Reuters reported. The job is widely expected to go to Spain's former economy minister, Rodrigo Rato.

The 24-member board this week interviewed Rato and a second candidate Mohamed El-Erian, a former senior IMF official and a senior executive at PIMCO, manager of the world's biggest bond fund, for the job prematurely left open by Horst Koehler.

"We will meet on Tuesday and na