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IMF chief quits to run for German presidency

FRANKFURT, MARCH 5. The International Monetary Fund chief, Horst Koehler, announced his resignation on Thursday to accept his nomination as a candidate for the German presidency.

Mr. Koehler (61), said in Washington that one of his deputies, Anne Krueger, would take over as acting managing director of the 183-nation international financial institution that he has headed since 2000 until a successor could be found.

``I have accepted the nomination because it is an honour,'' Mr. Koehler told a news conference, speaking in German.

Mr. Koehler was nominated early on Thursday by Germany's conservative and centrist Opposition parties, which hold a majority in the Federal Assembly that elects the nation's ninth President on May 23. Within hours, the Chancellor, Gerhard Schroeder, made the surprise announcement of his governing party's candidate, Gesine Schwan, who heads a university. — AP

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