MercoPress. South Atlantic News Agency

Former IMF head president of Germany

Horst Kohler a former Managing Director of the International Monetary Fund and running as an opposition candidate was elected Germany's new president for a five year mandate

He defeated political science professor Gesine Schwan who hoped to become Germany's first female head of state.

Mr. Kohler who replaces Johannes Rau was elected in the first round of voting in the Federal Assembly made up of the 602 Bundestag members and 605 representatives from the federal states.

A largely ceremonial post Mr. Kohler victory, running with the support of the Christina Democrats, Liberals and Bavaria's Social Christians, signals a strong warning for the ruling Social Democrat government of Chancellor Gerhard Schroeder.

Since the founding of the German Republic in 1949 the country has had six Liberal and Christian Democrat presidents and two Social Democrats, Gustav Heinemann and the outgoing Mr. Rau.

In his first speech Mr. Kohler said Germany needs deep structural reforms and is spite of having spent six years away from the country "I can't hide my concerns about our economy. Germany has to fight for its position in the world in the 21st century".

"Globalization ever increasingly signals our lives" and Germany is among "those countries which can and must take most advantage".

Mr. Kohler an economist was a close ally of former German Chancellor Helmut Kohl acting in his cabinet and helping with the contentious German monetary unification in 1990. In 1998 he became head of the European Bank for Reconstruction and Development and in 2000 Managing Director of the IMF.

His contender Ms. Schawn lives with Peter Eigen founder of the anticorruption organization, Transparency International.