[Weekly Compilation of Presidential Documents Volume 35, Number 45 (Monday, November 15, 1999)]
[Page 2310]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the Resignation of Michel Camdessus as Managing Director of 
the International Monetary Fund

November 9, 1999

    Today I want to express my appreciation to Michel Camdessus, who 
announced his intention to resign as Managing Director of the 
International Monetary Fund, for his years of service. Mr. Camdessus 
exhibited strong leadership during his two-plus terms at the IMF. His 
tireless efforts helped contain the fallout from the East Asian economic 
crisis in 1997 and 1998, improve the global financial architecture, 
increase the transparency of the IMF itself, establish ``good 
practices'' for transparency of national governments, and create greater 
focus on debt relief for the world's poorest countries. I will greatly 
miss working with Mr. Camdessus in the international economic policy 
arena and wish him the best in his retirement.