May 18, 2006
JS-4273

Statement by Secretary John W. Snow
on the Appointment of John Lipsky to be First Deputy
Managing Director of the International Monetary Fund

I welcome today's announcement that the IMF's Managing Director intends to appoint John Lipsky as First Deputy Managing Director of the IMF. He is an excellent choice and a worthy successor to Anne Krueger, who has served for the last five years with distinction. John brings a first-rate intellect and a wealth of relevant experience to the position – including a decade working at the IMF early in his career. I look forward to working with him as he and Managing Director de Rato move ahead to implement important reforms of the Fund. John Lipsky's appointment comes at a critical time in the IMF's evolution, and I believe the organization will be extremely well-served by his broad experience and sound judgment.