Bank of Israel's Fischer faces challenges in his bid for IMF role

French finance minister Christine Lagarde is seen as the front-runner, with Mexican central bank head Agustin Carstens also a contender.

Fischer, 67, entered the race with a statement saying: "An extraordinary and unplanned opportunity has come up, possibly one that will not come again, to be a candidate for the head of the IMF."

"After much deliberation," he said, "I have decided I want to pursue the opportunity. This is despite the process being complicated and despite the possible barriers."

IMF requirements bar the appointment of any managing director 65 or older.

Fischer, a U.S. citizen born in the African nation of Zambia, is also facing political winds, with expectations the role will go to a European, in part because of the region's historic dominance in the role and its ongoing financial crisis. The IMF, in conjunction with eurozone countries, has contributed to bailouts for Greece, Ireland and Portugal.

The IMF did not respond to emailed requests for comment Sunday. The job became open following the arrest of Dominique Strauss-Kahn on May 14 for allegedly sexually assaulting a maid in his hotel room. Strauss-Kahn, who resigned within days, has pleaded not guilty to the charges.

Sever Plocker, economics editor of Israel's Yediot Ahronot, said he did not believe the age limitation would be a problem, though politics could be. Plocker said he hoped the IMF would look at Fischer's "economics excellence rather than the passport."

Nominations for the job closed Friday, with selection expected to be complete by June 30.

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