IMF removes leadership age limit

ANKARA

The International Monetary Fund (IMF) said it has removed the age limit for the position of its managing director.

The move paved the way for appointment of candidates aged 65 years and above, according to a statement issued late Thursday.

"The IMF Executive Board is engaged in the selection of a successor to outgoing Managing Director Christine Lagarde, who will step down on Sept. 12.

"Nominations to the position close on Sept. 6, and we intend to complete the selection process by Oct. 4,” the statement added.

Kristalina Georgieva, chief executive of the World Bank, was nominated by EU countries for the position of managing director. She turned 66 on Aug. 13.