Statement on the Resignation of Michel Camdessus as Managing Director of the International Monetary Fund

Today I want to express my appreciation to Michel Camdessus, who announced his intention to resign as Managing Director of the International Monetary Fund, for his years of service. Mr. Camdessus exhibited strong leadership during his two-plus terms at the IMF. His tireless efforts helped contain the fallout from the East Asian economic crisis in 1997 and 1998, improve the global financial architecture, increase the transparency of the IMF itself, establish "good practices" for transparency of national governments, and create greater focus on debt relief for the world's poorest countries. I will greatly miss working with Mr. Camdessus in the international economic policy arena and wish him the best in his retirement.