The International Monetary Fund has narrowed its list of candidates for its top position.

The IMF board says French Finance Minister Christine Lagarde and Mexican Central Bank Chief Agustin Carstens are the remaining contenders to lead the global lender.

The move eliminates the bid of Israeli Central Bank chief Stanley Fischer, whose selection would have required the IMF to extend its age limit of 65 for first-time directors.

The European Union-backed Lagarde is considered by many to be the favorite for the position, although Carstens has the support of a dozen Latin American countries.

The position became vacant after former head Dominique Strauss-Kahn was charged with sexual assault in May. The IMF plans to choose a new chief by the end of June.