Statement by Mr. Fischer, Acting IMF Managing Director
March 16, 2000

I was honored to have been nominated for the position of Managing Director of the International Monetary Fund by Mr. Jose Pedro de Morais, Jr., the Executive Director representing Angola, Botswana, Burundi, Eritrea, Ethiopia, the Gambia, Kenya, Lesotho, Liberia, Malawi, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe, and by the support of other Executive Directors.

In view of the emerging consensus behind the candidacy of Mr. Horst Köhler, President, European Bank for Reconstruction and Development, I have asked Mr. de Morais to withdraw my nomination. I am deeply grateful for the confidence he and his colleagues and the countries they represent have expressed in me.

I had an excellent meeting this morning with Mr. Köhler, during which we discussed the challenges the Fund faces. I am confident that under his leadership the Fund will become an even more effective institution. I look forward to working closely with him, my colleagues in management and the staff, as well as the members of the IMF, as we move forward.


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