Press Release No. 13/471

Press Release: IMF Managing Director Christine Lagarde Names Changyong Rhee as Director of the Fund’s Asia and Pacific Department

November 26, 2013

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), today named Mr. Changyong Rhee to the position of Director, Asia and Pacific Department. His appointment will become effective February 10, 2014. Mr. Rhee will succeed Mr. Anoop Singh, who announced his intention to retire last July.

“Mr. Rhee brings together a wealth of public and private sector experience as well as a deep understanding of financial markets,” Ms. Lagarde stated. “As Asia continues to be one of the most dynamic regions in the global economy, my management team and I look forward to working with Mr. Rhee in serving our member countries in the region.”

Mr. Rhee, a Korean national, has been Chief Economist of the Asian Development Bank since March 2011. Prior to that, he held a range of senior public policy positions in Korea, including Secretary General of the Presidential Committee for the G-20 Summit, Vice Chairman of the Financial Services Commission, Chairman of the Securities and Futures Commission, and Member of the National Economic Advisory Council in the Office of the President of Korea. Mr. Rhee has also held a range of academic positions in Korea and the United States, and has published widely, including several books and numerous articles in leading economic journals.

He holds a Ph.D in Economics from Harvard University, along with a BA in Economics from Seoul National University.