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. Last Updated: 07/27/2016

Japan Out of IMF Race

TOKYO -- Despite a high profile and considerable clout, former Japanese Finance Ministry official Eisuke Sakakibara had one thing going against him in his failed effort to become the International Monetary Fund's next managing director.

He is Japanese.

Sakakibara's underdog candidacy, which ended Tuesday when Tokyo announced it would endorse German candidate Horst K?hler.

The IMF post has traditionally gone to a European, while an American customarily heads the World Bank.