Early March to see IMF's selection of new head

IMF Board approved decision and outlined that a successful candidate should be a person who, among other things, has recorded results in economic policy at higher levels. He or she would need to have, as stated, a remarkable professional history when they showed managerial and diplomatic skills for managing a global institutions and that nationality should be any IMF member state.

Candidates for the position should be proposed from January 21 to February 10. After that, they will be presented to the executive board and when four of them are short-listed, executive board will meet to chose adequate candidates.

It was also communicated that executive board can select IMF head with majority of votes but that the objective is to choose the candidate through consensus.