WASHINGTON: Raghuram Rajan, who served as Reserve Bank of India (RBI) governor, could be the next managing director of the International Monetary Fund (IMF). According to British media, his name is at the forefront of the race for the post. The British Ministry of External Affairs is demanding that it support the name of an Indian as IMF managing director, after which Rajan's chances are very strong.

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In addition to Raghuram Rajan in the IMF's MD race, the name of former Bank of England Governor Mark Carney, George Osborne, who served as chancellor in David Cameron's government, and former Netherlands Finance Minister Jeroin Dijsselbloem are also being considered. Notably, IMF's outgoing MD Christine Lagarde resigned last week. His resignation will be effective from September 12.

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Christine Lagarde is going to be president of the European Central Bank, according to a Hindustan Times report. Earlier, there was a lot of discussion that Raghuram Rajan could be appointed governor of the Bank of England. Rajan, however, denied that he had applied for the post.

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