July 26, 2007
HP-510

Secretary Paulson Statement Following
Meeting with IMF Candidate Strauss-Kahn

WASHINGTON, DC – Secretary Henry M. Paulson, Jr. issued the following statement after meeting today with Dominique Strauss-Kahn, a nominee for next Managing Director of the IMF:

"We discussed the vital role the IMF plays in global monetary cooperation and the importance of remaining on the path of bold reform to ensure its continued relevance in the global economy.

"I shared my views on the key elements of reform. The IMF must vigorously implement its new decision on currency surveillance. It should follow through with fundamental reform of its quota structure, shifting significant weight to dynamic emerging markets. The Fund has a continuing role in providing macroeconomic advice and support to low-income members, while avoiding mission creep into developmental activities. It needs to conduct a bottom-up review of the alignment between its existing structure and the Fund's role in today's global financial system.

"Dominique Strauss-Kahn is a strong candidate and I look forward to continuing the dialogue with my counterparts at the Fund as the selection process moves toward a conclusion this fall. I appreciate his visit here today and the outreach he is doing around the world."