Press Release No. 98/54

The Executive Board of the International Monetary Fund (IMF) adopted today the following resolution:

"Whereas, on October 31, 1998, Mr. Alexandre Kafka will relinquish the post of Executive Director of the IMF, which he has held since November 1, 1966, thus completing a distinguished record of service to the IMF that began when he first joined the staff in 1949: and

"Whereas, Mr. Kafka has indefatigably and devotedly sought to foster the spirit of international cooperation and to work for the realization of the ideals which the IMF was established to promote; and

"Whereas, Mr. Kafka has been a mentor, colleague, a source of inspiration, and friend to many generations of Executive Directors, members of management, and staff;

"Now therefore, it is resolved: that the members of the Executive Board express to their associate and dean, Mr. Kafka, their tribute to his long, committed, and effective service to the IMF and the world community; their appreciation of his dedication to the IMF and to those associated with it; and their hope that they will continue to benefit from his friendship and counsel for many years to come."