FROM THE OFFICE OF PUBLIC AFFAIRS

Michel Camdessus has served the members of the International Monetary Fund with great distinction during his time as the longest serving Managing Director. With brave and skillful leadership, he steered the IMF through challenges from the 1980s debt crisis to the transformation of former communist economies and the Asian financial crisis. Throughout these times, Mr. Camdessus has reinforced the strengths of the institution and steadfastly protected the interests of its members and the international monetary and financial system as a whole. Most recently, we in the United States have deeply appreciated his leadership in championing the HIPC initiative and working tirelessly to secure its financing.

An international institution charged with these vital responsibilities requires a leader of great experience, judgment, and talent. Michel Camdessus proved to be such a leader.

The Treasury Department will miss his many contributions to the international community, and we wish him well in his future endeavors.