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IMF MANAGING DIRECTOR ISSUES STATEMENT ON THE DEATH OF PIERRE-PAUL SCHWEITZER

 WASHINGTON, Jan. 4 /PRNewswire/ -- Michel Camdessus, managing director of the International Monetary Fund (IMF), made the following statement on learning of Pierre-Paul Schweitzer's death:
 "It is with great sadness that I learned of the passing of Pierre- Paul Schweitzer. The international community has suffered a great loss. After a distinguished career in France, he became managing director of the International Monetary Fund in 1963. During his 10-year tenure at the IMF, has was deeply respected for his leadership and foresight and his spirit of innovation at a time when the international monetary system and the IMF itself had to undergo profound transformations. Under his guidance, the IMF created the Special Drawing Right (SDR) as an international reserve asset; also it played a crucial financing role for various industrial countries, and helped developing countries, a large number of which joined the IMF during his tenure, to recognize their stake in international monetary cooperation. At all times, he showed his strong commitment to being as close as possible to the poorest countries, to give them confidence and support them in their efforts to stabilize and develop their economies. Mr. Schweitzer held far-sighted views about the major causes of the currency instability of the late 1960s and early 1970s, which he set forth with force and courage. This attitude, and his important contributions to the strengthening of the IMF and to the progress of the world economy earned him the utmost gratitude and admiration of the international community.
 "Mr. Schweitzer will be greatly missed by all those who at all levels worked with him. He leaves us the highest example of dedication to the cause of true multilateral cooperation.
 "On behalf of all of us at the IMF, I would like to express by deep condolences to Mrs. Schweitzer and the family."
 -0- 1/4/94
 /CONTACT: International Monetary Fund, External Relations Department, 202-623-7100/


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

DT-IH -- DC006 -- 8846 01/04/94 10:56 EST
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Publication:PR Newswire
Date:Jan 4, 1994
Words:331
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