Former IMF deputy chief and Bank of Israel governor, Stanley Fischer, has emerged as a candidate to challenge Mexico’s Central Bank governor Agustin Carstens and French finance minister Christine Lagarde.

Fischer announced a formal bid to head the IMF at the weekend, saying his training as an economist would be an advantage to the candidacy.

He has held several leading positions, including at the World Bank and Citigroup, and has headed the Bank of Israel for the past six years.  

In the meantime, Lagarde received support from Egypt, the UAE and Indonesia, which became the latest countries to back her bid after several African states tipped her for the post last week.