Former Managing Director of the International Monetary Fund
Michel Camdessus, an economist and French national, was managing director of the International Monetary Fund from 1987 to 2000.The Fund’s longest-serving leader to date, he managed it during a period of immense global change, including the enormous acceleration of globalisation and challenges ranging from the break-up of the Soviet Union to financial crises in Latin America and East Asia.
Upon taking office at the Fund, Mr Camdessus faced debt crises in more than a dozen countries and deepening poverty in Sub-Saharan Africa. From the start, he believed that widespread poverty threatened global financial stability and should be a leading concern for the IMF. He also brought renewed focus at the IMF on debt reduction, low-interest loans, poor governance and military spending.
Mr Camdessus joined France’s Ministry of Finance in 1960. He served as governor of the Bank of France from 1984 until his appointment as managing director of the IMF. He remains a member of the UN Secretary-General’s Advisory Board on Water and Sanitation.