<p>India's representative at the IMF Arvind Virmani has said that age was against Ahluwalia because of rules that bar anyone above 65 from qualifying for that post.<br /><br />The name of Ahluwalia has been speculated as a possible candidate for the top IMF post after the ignominious exit of Managing Director Dominique Strauss-Kahn this month.<br /><br />"He (Ahluwalia) would have been an excellent candidate in my view except that we have just pronounced the by-laws that the Managing Director (of IMF) must be 65 or younger. <br /><br />Unless these by-laws are changed, he can't be really put on as a candidate," IMF executive director Arvind Virmani told NDTV.<br /><br />Ahluwalia is 67 years old and as per IMF's by-laws, no person above the age of 65 years can be appointed as IMF chief.<br /><br />As per IMF norms, the contract of the Managing Director shall be for a term of five years and may be renewed for the same term or for a shorter term at the discretion of the Executive Board.<br /><br />This would be done, provided that "no person shall be initially appointed to the post of Managing Director after he has reached his sixty-fifth birthday and that no Managing Director shall hold such post beyond his seventieth birthday".<br /><br />Following the resignation of Strauss-Kahn in the wake of his arrest on rape charges, various names from different countries have been doing the rounds as possible candidates for the top IMF post.<br /><br />While French Finance Minister Christine Lagarde today launched her campaign for the post of IMF Managing Director, concerns have been raised by many developing countries including India.<br /><br />Historically, the post of IMF Managing Director has been held by a European.<br /><br />Other names speculated for the top post include Mexican central bank's governor Agustin Carstens and Kazakhstan apex bank's governor Grigory Marchenko.<br /><br /><br /></p>
<p>India's representative at the IMF Arvind Virmani has said that age was against Ahluwalia because of rules that bar anyone above 65 from qualifying for that post.<br /><br />The name of Ahluwalia has been speculated as a possible candidate for the top IMF post after the ignominious exit of Managing Director Dominique Strauss-Kahn this month.<br /><br />"He (Ahluwalia) would have been an excellent candidate in my view except that we have just pronounced the by-laws that the Managing Director (of IMF) must be 65 or younger. <br /><br />Unless these by-laws are changed, he can't be really put on as a candidate," IMF executive director Arvind Virmani told NDTV.<br /><br />Ahluwalia is 67 years old and as per IMF's by-laws, no person above the age of 65 years can be appointed as IMF chief.<br /><br />As per IMF norms, the contract of the Managing Director shall be for a term of five years and may be renewed for the same term or for a shorter term at the discretion of the Executive Board.<br /><br />This would be done, provided that "no person shall be initially appointed to the post of Managing Director after he has reached his sixty-fifth birthday and that no Managing Director shall hold such post beyond his seventieth birthday".<br /><br />Following the resignation of Strauss-Kahn in the wake of his arrest on rape charges, various names from different countries have been doing the rounds as possible candidates for the top IMF post.<br /><br />While French Finance Minister Christine Lagarde today launched her campaign for the post of IMF Managing Director, concerns have been raised by many developing countries including India.<br /><br />Historically, the post of IMF Managing Director has been held by a European.<br /><br />Other names speculated for the top post include Mexican central bank's governor Agustin Carstens and Kazakhstan apex bank's governor Grigory Marchenko.<br /><br /><br /></p>