Press Release: Statement by IMF Managing Director Rodrigo de Rato at the Conclusion of his Visit to Malaysia

May 24, 2006

Press Release No. 06/112

Mr. Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued the following statement today in Kuala Lumpur at the conclusion of his visit to Malaysia:

"I am delighted to have had the opportunity to visit Malaysia, my first visit to the country since my appointment as Managing Director of the IMF. I had the pleasure to meet Minister of Finance II Nor Mohamed Yakcop, and Bank Negara Malaysia Governor Zeti Aziz, as well as representatives of the banking community.

"I am impressed with the strong performance of the Malaysian economy over the last few years and its leaders' vision to bring Malaysia to advanced country status by 2020. The authorities' economic management has been skillful and pragmatic. We discussed the challenges that Malaysia faces going forward and the authorities' plans to address them through wide-ranging structural reforms, which were most recently articulated in the Ninth Malaysia Plan.

"During my visit, I also had the opportunity to exchange views with the authorities on a range of issues including how to better position the IMF to be an effective institution in the 21st century. In this context, I explained to the authorities how the IMF will be implementing the Medium-Term Strategy, including how to address critical issues such as enhancing governance of the institution by providing Asian countries with a greater voice at the Fund. In conclusion, I greatly value the dialogue I have just had with the Malaysian authorities and regard their input as an important building block in implementing the Medium-Term Strategy and in preparation for the forthcoming Annual Meetings in Singapore in September."


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