Source:
Bank Information Center
Thu Jun 28 2007
In a message to IMF staff Managing Director Rodrigo de Rato announced he will step down after the 2007 Annual Meetings for personal reasons.
Letter sent to IMF staff
Subject: Message to the Staff from the Managing Director
Message to the Staff from the Managing Director:
I have some news to share with you. I have just informed the Board that I will not be able to serve the full length of the mandate that the Board has given me as the Managing Director.
I have taken this decision for personal reasons. My family circumstances and responsibilities, particularly with regard to the education of my children, are the reason for relinquishing earlier than expected my responsibilities at the Fund.
My intention is to step down as Managing Director after the 2007 Annual Meetings and I wanted to share my decision with you as soon as I made it in order to provide the Board with adequate time to appoint my successor.
While I take this decision for personal reasons, professionally it has not been an easy decision because, as you all know, I have the highest regard for this institution, its staff, its role in the global economic architecture, and its enviable ability to adapt to changing global circumstances to ensure that it can serve its members effectively.
Serving as the Managing Director of this distinguished institution has been one of the most professionally fulfilling positions that I have held. Indeed, it has been a great honor for me to serve the Fund and I will do so with the same endeavor and enthusiasm until my very last day.
I would like to thank all of you for your strong support and collaboration over the last three years. I am very proud of the work that we have done together and what we have achieved. The Medium-Term Strategy builds on ideas put forward by the Board, the staff, as well as useful ideas from outsiders who care about the role and effectiveness of this institution. It enjoys broad support among the membership, and has provided us with a useful road map for reform. I am very proud that together we have already delivered on key elements of this strategy, such as the first stage of the quota increase and our new surveillance framework.
I would like to assure you that I remain absolutely determined to make further progress on all aspects of the Medium-Term Strategy in the coming months, especially on quotas and voice, but also Fund income, crisis prevention, and on collaboration with the World Bank in low‑income countries. Indeed, I hope that my departure could provide an incentive for all of us to work together constructively and effectively with the membership over the next few months to try and accelerate the time table in these areas and ensure that we make significant progress by the time of the Annual Meetings.
During the last three years I have been constantly impressed by the dedication, resourcefulness, and creativity of the staff as well as by the very high quality of the work produced by the Fund across its areas of expertise. I am sure I can continue to count on your support in the coming months for us to make further progress together. Thank you.
Rodrigo de Rato
For more information see:
-> IMF Press Release
-> IMF Survey Magazine
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