Spain economy minister withdraws from IMF race: govt

MADRID: Spain's economy minister Nadia Calvino on Friday withdrew from the IMF leadership race just as EU governments prepared to select a preferred candidate for a post traditionally held by a European.

"Spain will always be willing to promote consensus among the countries of the European Union to choose a common candidacy for leadership of the International Monetary Fund. To this end, we announce that the government is committed to achieving a European agreement, and the Economy Minister Nadia Calvino won't participate in the next phase," the government said in a statement.