Press Release No. 00/21
March 23, 2000 International Monetary Fund
700 19th Street, NW
Washington, D.C. 20431 USA
IMF Executive Board Selects Horst Köhler as IMF Managing Director
The Executive Board of the International Monetary Fund (IMF) today agreed
unanimously to select Horst Köhler as Managing Director and Chairman of the
Executive Board of the International Monetary Fund. Mr. Köhler will succeed
Michel Camdessus, who resigned on February 14, 2000.
Mr. Köhler, 57, a national of Germany, is currently President of the European
Bank for Reconstruction and Development, a post to which he was appointed in
September 1998.
Mr. Köhler was President of the German Savings Bank Association from 1993 to
1998. From 1990 to 1993, he served as Germany's Deputy Minister of Finance,
being responsible for international financial and monetary relations. During
this time, he led negotiations on behalf of the German government on the
agreement that became the Maastricht treaty on European Economic and Monetary
Union, was closely involved in the process of German unification, and held
the position of Deputy Governor for Germany at the World Bank. He was
personal representative ("sherpa") of the Federal Chancellor in the
preparation of the Group of Seven Economic Summits in Houston (1990), London
(1991), Munich (1992) and Tokyo (1993).
Mr. Köhler earned a doctorate in economics and political sciences from the
University of Tübingen, where he was a scientific research assistant at the
Institute for Applied Economic Research from1969 to1976. After completing his
education, he held various positions in Germany's Ministries of Economics and
Finance between 1976 and 1989.
He is married to Eva Köhler and has two children.
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IMF EXTERNAL RELATIONS DEPARTMENT
Telephone: 202-623-7300 — Fax: 202-623-6278
hkanteh
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