(Bloomberg) -- French Finance Minister Bruno Le Maire ruled himself out of becoming the next head of the International Monetary Fund, leaving European governments fewer options as they seek a candidate from their continent to replace Christine Lagarde.
“I am not a candidate for managing director of the IMF,” Le Maire said on French television channel BFM TV.
The IMF’s last 11 managing directors all came from Europe, including Lagarde of France. She is set to step down after this week being picked to become president of the European Central Bank once Mario Draghi leaves on Oct. 31.
The 50-year-old Le Maire, who ran in a presidential primary in 2016, said France’s penchant for regularly shuffling ministers between posts has damaged the country when it needs political stability. He also said he would not seek a post at the European Commission.
“I want to remain in the service of the French people and get results for the French people. I’m not at the end of what I can and should do,” Le Maire said. “I want to remain finance minister.”