IMF boots Fischer from race for top job

The International Monetary Fund's board on Monday blocked Bank of Israel governor Stanley Fischer from the race for the top IMF job.

In a surprise move, the 24-member IMF board rejected changing the IMF's rules that would have allowed 67-year-old Fischer to run, two board official told Reuters. Fischer said in response he will gladly continue to perform the role of Bank of Israel governor but noted he had hoped the board would change its rules for the benefit of future candidates as well. (Reuters)