Bank of Italy MD says Italian could go to IMF

ROME - The Bank of Italy’s number two official said on Tuesday it was possible an Italian could take a senior post at the International Monetary Fund, which has just lost its managing director and its steering committee chairman.

By (Reuters)

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Published: Tue 3 Jul 2007, 5:02 PM

Last updated: Sat 4 Apr 2015, 10:12 PM

Asked by reporters if an Italian could be taking up an IMF post, BOI Director General Fabrizio Saccomanni replied: ‘Yes ... The custom is that it’s a European and we are Europeans.’

A senior US Treasury official said earlier this week that Italian Economy Minister Tommaso Padoa-Schioppa, formerly on the European Central Bank board, would be a good choice to replace Britain’s new prime minister, Gordon Brown, on the IMF’s International Monetary and Financial Committee.

The IMF is also in need of a new chief after its managing director, Rodrigo Rato, resigned last week. The IMF’s top job is traditionally held by a European while the World Bank is led by an American.

An Italian government source said this weekend that Padoa-Schioppa’s name has been circulating as a possible replacement for Brown.

Unlike the managing director’s post, the chairmanship of the IMFC is compatible with that of a national cabinet job.

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