The Bank of Italy's number two official said on Tuesday it was possible an Italian could be the next head of the International Monetary Fund following Rodrigo Rato's surprise decision to step down as managing director.
Asked by reporters if an Italian could take over from Rato, BOI Director General Fabrizio Saccomanni replied: "Yes ... The tradition is that it's a European and we are Europeans." Italy's central bank said on Friday its governor, Mario Draghi, was not interested in becoming IMF managing director, dismissing speculation in the Italian press that he was among the favourites for the job.
Rato, a Spaniard, announced on Thursday he would quit for personal reasons in October after just over three years in a job with a 5-year term. The IMF's top job is traditionally held by a European while the World Bank is led by an American.
The IMF also recently lost its steering committee chairman when Gordon Brown quit as head of the policy setting board as he moved up to prime minister in Britain from finance minister.
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 Brown. An Italian government source confirmed Padoa-Schioppa's name has been circulating for the steering committee job. Unlike the managing director's post, the chairmanship of the IMFC is compatible with that of a national cabinet job.
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