Michel Camdessus

Former Managing Director IMF

Michel Camdessus
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For 13 years, from 1987 to 2000, Michel Camdessus has presided over the IMF, boosting the organization’s authority. Previously he was Governor of the Banque de France.

Michel Camdessus was educated at the University of Paris and earned postgraduate degrees in economics at the Institute of Political Studies of Paris and the National School of Administration.

Following his appointment as Administrator Civil in the French Civil Service, he joined the Treasury in the Ministry of Finance and Economic Policies in 1960.

After serving as Financial Attaché to the French delegation at the European Economic Community in Brussels from 1966 to 1968,Michel Camdessus returned to the Treasury and went on to become Assistant Director in 1971, Deputy Director in 1974, and Director in February 1982.

During the period 1978-84, Michel Camdessus also served as Chairman of the Paris Club, and was Chairman of the Monetary Committee of the European Economic Community from December 1982 to December 1984.

In August 1984, Michel Camdessus was appointed Deputy Governor of the Bank of France, and was appointed Governor of the Bank of France in November 1984. He served in this post until his appointment as Managing Director of the IMF.

Michel Camdessus was elected as Managing Director and Chairman of the Executive Board of the International Monetary Fund (IMF) on January 16, 1987. On May 22, 1996, the Executive Board of the IMF unanimously selected Mr. Camdessus to serve a third five-year term as Managing Director, beginning January 16, 1997. He was the seventh Managing Director of the IMF. Mr. Camdessus retired from the IMF on February 14, 2000.

Afterleaved the IMF, Michel Camdessus had participated in different commissions and panels. Amongst the most important of them:

Mr Camdessus was the Chairman of the World Panel on Financing Water Infrastructure (report: “Financing Water for All” – Kyoto-March 2003).

He was a member of the Commission for Africa, chaired by the British Prime Minister, Tony Blair (report: “Our Common Interest” – March 2005).

Michel Camdessus is a member of the Africa Progress Panel, chaired by Mr. Kofi Annan

He was the Chairman of the French Financing Corporation (Société de Financement de l’Economie Française, SFEF – 2008-2009)

In September 2009, Michel Camdessuss was appointed Special Commissioner to monitor French banks’ bonus payments practices.

In January 2010, Michel Camdessus was appointed by President Sarkozy as the Chair of the high level working group on the reform of French public finances equilibrium rules.

At present,Michel Camdessus is Honorary Governor of the Banque de France.