Printer Friendly

IMF'S INTERIM COMMITTEE SELECTS NEW CHAIRMAN

 WASHINGTON, Sept. 15 /PRNewswire/ -- The members of the International Monetary Fund's (IMF) Interim Committee have selected Philippe Maystadt, minister of finance of Belgium, as chairman of the committee. Maystadt succeeds Carlos Solchaga Catalan of Spain, who resigned in July 1993.
 Maystadt has been Belgium's minister of finance since 1988. He was elected to the Chamber of Representatives in 1977 and has held various portfolios in successive governments since 1979: state secretary for the Waloon region (1979-80); and minister of Public Administration and Science Policy (1980-81); Budget, Planning and Science Policy (1981-85); and Economic Affairs (1985-88).
 The Interim Committee's formal name is the Interim Committee of the Board of Governors of the International Monetary Fund on the International Monetary System. It was established in October 1974 to advise the IMF's board of governors on supervising the management and adaptation of the international monetary system as well as dealing with sudden disturbances that might threaten the stability of the system. In fact, the committee deliberates on the principal policy issues facing the IMF.
 The committee has, at present, 24 members who are governors of the IMF, ministers, or others of comparable rank, and reflect the composition of the IMF executive board: each member country that appoints, and each group of countries that elects, an executive director, appoints a member of the committee. The committee usually meets twice a year; in the spring, and ahead of the annual meetings in the fall. It last met in Washington on April 30, 1993, and the next meeting is scheduled for Washington on Sept. 26, 1993.
 The context of its periodic review of the World Economic Outlook, the committee at its most recent meeting adopted a new cooperative strategy aimed at sustained global expansion and, to meet the challenges of an increasingly integrated world economy, supported a strengthening of IMF surveillance over members' exchange rate and economic policies. The committee in recent years has also overseen the coming into effect of quota increases under the Ninth General Review, guided the establishment of two important new lending facilities -- the Enhanced Structural Adjustment Facility (ESAF) and the Systemic Transformation Facility, and kept under review the questions of an allocation of Special Drawing Rights (SDRs) and the future of the SDR as a reserve asset.
 -0- 9/15/93
 /CONTACT: International Monetary Fund, External Relations Department, 202-623-7100/


CO: International Monetary Fund ST: District of Columbia IN: FIN SU: PER

IH-DC -- DC019 -- 2213 09/15/93 11:58 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 15, 1993
Words:409
Previous Article:FIRST CITIZENS BANK ANNOUNCES MORTGAGE LOAN FUNDING FOR LOW TO MODERATE INCOME BORROWERS
Next Article:CITIZENS FEDERAL BANK REDEEMS $44.5 MILLION OF PREFERRED STOCK; DIVIDEND COSTS WILL BE REDUCED BY MORE THAN $2 MILLION PER YEAR

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters