Press Release No. 02/20

International Monetary Fund Managing Director Horst Köhler announced today his intention to name George Abed as Director of the IMF's Middle Eastern Department to succeed Paul Chabrier, who is retiring in July after 38 years with the Fund. Mr. Abed's appointment would be effective July 1, 2002.

Mr. Abed, a Jordanian national, has more than 20 years of experience in the IMF, including senior positions in the Middle Eastern Department, and most recently as Deputy Director in the Fiscal Affairs Department. He holds a doctorate in economics from the University of California at Berkeley, and took a leave from the Fund to serve between 1985 and 1993 as the head of a Geneva-based humanitarian and development assistance foundation that is active in the Middle East.

Mr. Köhler, in notifying the IMF Executive Board of his intention to appoint a new Director for the Middle East, noted that Mr. Abed "has extensive experience with country program and related technical assistance and economic surveillance work in the Fund, and has provided strong intellectual leadership in influencing economic and financial policy in the Middle East, and in other regions in which he has had extensive experience."

Mr. Chabrier, a French national, has served as Director of the Middle Eastern Department since December 1992.

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