Rato set to be next IMF chief

Former Spanish finance minister Rodrigo Rato looks certain to become the International Monetary Fund's new chief after the United States threw its support behind his candidacy this week.

"He has excellent credentials to be in charge," US Treasury Undersecretary for International Affairs John Taylor told reporters.

The French and Germans had wanted Jean Lemierre President of the European Bank for Reconstruction and Development, but his reappointment on Monday took him out of the race.


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