Press Release No. 08/99

Press Release No. 08/99

Simon Johnson, Economic Counsellor and Director of the International Monetary Fund's Research Department, has notified IMF Managing Director Dominique Strauss-Kahn of his intention to return to the Massachusetts Institute of Technology (MIT) where he is on leave as the Ronald A. Kurtz Professor of Entrepreneurship at the Sloan School of Management, in time for the start of the next academic year. Mr. Johnson has been with the Fund as Economic Counsellor since March 2007 (see Press Release No. 07/34).

"In order to devote more time to research and teaching, I have decided to leave the IMF," Mr. Johnson stated. "This is not an easy decision and I am sorry to leave the Fund. My many outstanding colleagues here have made it a pleasure and a great learning experience to come to work every day. I wish them all well in the days ahead."

"I would like to thank the Executive Board of the IMF for their strong support of both independent-minded research at the Fund, and my specific role as Economic Counselor during challenging times for the global economy. In addition, I am most grateful for the opportunity to serve under two Managing Directors, Mr. Rodrigo de Rato and Mr. Dominique Strauss-Kahn. I very much appreciate having had the opportunity to work with both of them."

The Managing Director issued the following statement to the Executive Board regarding Mr. Johnson's decision: "Simon brought to the Fund an extraordinary record of academic distinction combined with practical experience, and he found new ways to apply innovative thinking to both conventional and unorthodox problems.

"He is a leading academic expert on preventing and resolving economic crises, and he has moved our work forward significantly along many dimensions. We have benefited greatly from his engagement across key issues pertinent to today's IMF, including exchange rate analysis, macro-financial linkages, financial globalization, and of course the World Economic Outlook," he added. "I know that I speak for everyone in the Research Department, and his many colleagues and friends across the Fund, in wishing him well on his return to academia. On behalf of the Management team, I would like to thank Simon for all of his work at the Fund."

Mr. Johnson will maintain his responsibilities at the IMF until September 1, 2008. An external search will be undertaken for his successor.

For additional biographical information on Mr. Johnson see: http://www.imf.org/external/np/bio/eng/sj.htm