Stanley Fischer, First Deputy Managing Director of the International Monetary Fund, made the following statement today on the death of Lewis T. Preston:

"We at the IMF were greatly saddened to learn of Lew Preston's death yesterday, after four years of distinguished service as President of the World Bank. Lew was a man of remarkable ability and quiet determination, who, throughout his career, was always more interested in getting the job done than in making headlines. Lew firmly believed that the World Bank could make a difference, and he was constantly seeking to improve the way the Bank worked to ensure that its programs met the needs of the people of the developing world. The poor throughout the world have benefited from the innovative programs he fostered as President of the World Bank, and their lives were changed for the better as a result of his leadership of that institution.

"Lew Preston worked closely with us at the IMF to deepen and strengthen collaboration between our two institutions. His personal commitment to the World Bank and his far-sighted view of its role and responsibilities enhanced our ability to work together to help our member countries.

"The international community has suffered a great loss with Lew's passing. Together with Lew's colleagues at the Bank and those throughout the world who had the pleasure and honor to know him, we will miss his tireless devotion to his work, his sense of humor, and, most of all, his desire to improve the lives of the poor and disadvantaged.

"On behalf of Michel Camdessus, Managing Director, and of the International Monetary Fund, I extend our sincere condolences to Lew's wife and family."