Stanley Fischer, Israel's central banker, has been disqualified from the race for the International Monetary Fund's (IMF) chief position.

The IMF in a statement from Washington on Monday did not mention Israel’s central banker Stanley Fischer when it declared its intention to consider two candidates for the post of managing director. The front-runners for the top post include Christine Lagarde, the French finance minister, and Agustin Carstens, Mexico's central bank chief, IMF said in a statement.

The age limit that the IMF has set for an incoming managing director is 65 and Fischer is two years above the age limit. Besides, the IMF historically has been headed by a European and Fischer has U.S. citizenship.

The IMF's former chief, Dominique Strauss-Kahn, resigned last month after his arrest on account of sexual assault charges in New York.