ISRAEL’S CENTRAL bank chief Stanley Fischer has applied to become the next head of the IMF, the bank said this weekend.

The IMF’s last director, Dominique Strauss-Kahn, resigned his post last month after he was accused of attempting to rape and assault a New York hotel chambermaid.

Fischer has headed the Bank of Israel since 2005 and is credited with helping Israel escape the global financial crisis. Unemployment in Israel currently stands at 6 per cent. He has also worked for the World Bank and Citigroup.

“An extraordinary, unexpected and once-in-a-lifetime opportunity has arisen, to run for the head of the International Monetary Fund, which I decided I wanted to do after many considerations,” Fischer said yesterday.

The closing date for applications was Friday and France’s Christine Lagarde is widely considered the favourite to take the job, which traditionally goes to a European candidate. Fischer said he was applying knowing it is “a complex process and despite the potential barriers.”

The Irish government has already indictated its support for Lagarde to take the position.

- Additional reporting from the AP

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