Dervis' withdrawal raises Lagarde's IMF prospects

[May 21, 2011]  WASHINGTON (AP) -- A former finance minister for Turkey who had been among the leading candidates to head the International Monetary Fund is removing himself from consideration.

The withdrawal of Kemal Dervis enhances the prospects of French Finance Minister Christine Lagarde by eliminating perhaps the leading non-European candidate to head the IMF.

Dervis had been considered a possible successor to Dominique Strauss-Kahn if the IMF wanted a replacement to come from outside the European Union.

Dervis spent 24 years at the World Bank, the IMF's sister lending institution. In a statement, he says he'll remain involved in research at the Brookings Institution, a Washington think tank.

The IMF is under pressure to find a successor to lead an organization that provides billions in loans to stabilize the world economy.

[Associated Press; By MARTIN CRUTSINGER]

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