List of Managing Directors of International Monetary Fund

24-APR-2018 11:58
    IMF headquarter Washington, D.C., United States

    The International Monetary Fund (IMF) is led by a Managing Director (MD).  Managing Director is head of the staff and serves as Chairman of the Executive Board. Since its inception the Managing Director of IMF has been European which has become apple of discord among the Non-European countries. Managing Director of the IMF is selected by the Executive Board consists of 24-member.

    Duties of the Managing Director

    According to the IMF's Articles of Agreement, the Managing Director “shall be chief of the operating staff of the Fund and shall function, under the direction of the Executive Board. The Managing Director shall be responsible for the appointment, organization and dismissal of the staff of the Fund.

    The Managing Director of IMF is assisted by a First Deputy Managing Director and 3 Deputy Managing Directors.

    The IMF has had 11 Managing Directors since it began operations in 1947. The first MD of the IMF was Mr. Camille Gutt (Belgium). Christine Lagarde of France became the IMF’s 11th Managing Director on July 5, 2011 and since July 6, 2016; she is serving her second five year term.

    List of Managing Directors of IMF is as follows;

    Name

    Tenure

    Nationality

     1. Camille Gutt

     6 May 1946 – 5 May 1951

     Belgium

     2. Ivar Rooth

     3 August 1951 – 3 October 1956

     Sweden

     3. Per Jacobsson

     21 November 1956 – 5 May 1963

     Sweden

     4. Pierre-Paul Schweitzer

     1 September 1963 – 31 August 1973

     France

     5. Johan Witteveen

     1 September 1973 – 18 June 1978

     Netherlands

     6. Jacques de Larosière

     18 June 1978 – 15 January 1987

     France

     7. Michel Camdessus

     16 January 1987 – 14 February 2000

     France

     8. Horst Köhler

     1 May 2000 – 4 March 2004

     Germany

     9. Rodrigo Rato

     7 June 2004 – 31 October 2007

     Spain

     10. Dominique Strauss-Kahn

     1 November 2007 – 18 May 2011

     France

     11. Christine Lagarde

     5 July 2011 – present

     France

    In the above mentioned list all the Managing Directors of IMF belongs to Europe. This practice is continuing since the inception of the IMF. Some big countries and organisations like BRICS is raising voice against the monopoly of European nations in the selection process of the IMF boss. We are optimistic that vary soon the world leader have to admit that the post of IMF head should be filled on the basis of merit only.

    All about International Monetary Fund (IMF)

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