IMF Summary Proceedings 1996 -- part 5 of 5

DOCUMENTS AND RESOLUTIONS

OF THE

BOARD OF GOVERNORS

DOCUMENTS AND RESOLUTIONSOF THE

BOARD OF GOVERNORS

SCHEDULE OF MEETINGS1

SundaySeptember 29 9:30 a.m.— Interim Committee2

2:30 p.m.— Interim Committee

MondaySeptember 30 9:00 a.m.— Joint Development Committee

3:00 p.m.— Joint Development Committee

TuesdayOctober 1 10:00 a.m.— Opening Ceremonies

Address from the ChairAnnual Address by Managing

Director, International Monetary Fund

Annual Address by President,World Bank Group

3:00 p.m.— Annual Discussion

WednesdayOctober 2 9:30 a.m.— Annual Discussion

3:00 p.m.— Annual DiscussionIMF Election of Executive DirectorsIBRD Election of Executive

DirectorsMIGA Election of Directors

6:15 p.m. — Joint Procedures Committee

6:30 p.m. — MIGA Procedures Committee

ThursdayOctober 3 9:30 a.m. — Annual Discussion

Following the Procedures Committees’ Reportsconclusion of the Comments by Heads of

Annual Discussion OrganizationsAdjournment

255

1Meetings of the Joint Development Committee were held jointly with the Board ofGovernors of the Bank. The sessions of the Annual Meetings were held jointly with theBoards of Governors of the World Bank Group.

2Fund only.

PROVISIONS RELATING TO THE CONDUCTOF THE MEETINGS

Admission

1. Sessions of the Boards of Governors of the Fund and the World BankGroup Organizations will be joint and shall be open to accreditedpress, guests, and staff.

2. Meetings of the Joint Procedures Committee shall be open only toGovernors who are members of the Committee and their advisers, Ex-ecutive Directors, and such staff as may be necessary.

Procedure and Records

3. The Chairman of the Boards of Governors will establish the order ofspeaking at each session. Governors signifying a desire to speak willgenerally be recognized in the order in which they ask to speak.

4. With the consent of the Chairman, a Governor may extend his state-ment in the record following advance submission of the text to theSecretaries.

5. The Secretaries will have verbatim transcripts prepared of the pro-ceedings of the Boards of Governors and the Joint Procedures Com-mittee. The transcripts of proceedings of the Joint Procedures Com-mittee will be confidential and available only to the Chairman, theManaging Director of the Fund, the President of the World BankGroup, and the Secretaries.

6. Reports of the Joint Procedures Committee shall be signed by theCommittee Chairman and the Reporting Member.

Public Information

7. The Chairman of the Boards of Governors, the Managing Director ofthe Fund, and the President of the World Bank Group will communi-cate to the press such information concerning the proceedings of theAnnual Meetings as they may deem suitable.

256

AGENDA

1. 1996 Annual Report

2. Report of the Chairman of the Interim Committee(Fund Document No. 4)

3. Report of the Chairman of the Joint Development Committee (Fund Document No. 5)

4. 1996 Regular Election of Executive Directors (Fund Document No. 6)

5. Financial Statements and Audit Report (Appendix X of 1996 Annual Report and Fund DocumentsNos. 7 and 8)

6. Administrative and Capital Budgets for Financial Year ending April 30, 1997 (Appendix IX of 1996 Annual Report and Fund Documents Nos. 8 and 9)

7. Amendments of Rules and Regulations (Fund Document No. 10)

8. Selection of Officers and Joint Procedures Committee for 1996/97

257

REPORTS OF THEJOINT PROCEDURES COMMITTEE

Chairman — ChileVice Chairmen — Papua New Guinea, South Africa

Reporting Member — Portugal

Other Members

Belarus, Belgium, Denmark, El Salvador, Equatorial Guinea,Ethiopia, France, Germany, India, Jamaica, Japan,

Mauritania, Molodva, Saudi Arabia, United Arab Emirates,United Kingdom, United States, Venezuela, and Vietnam

Report I1

October 3, 1996

Mr. Chairman:

At the meeting of the Joint Procedures Committee held on October 2,1996, items of business on the agenda of the Board of Governors of theInternational Monetary Fund were considered.

The Committee submits the following report and recommendations:

1. 1996 Annual Report

The Committee noted that provision had been made for the annualdiscussion of the business of the Fund.

2. Report of the Chairman of the Interim Committee

The Committee noted the presentation made by the Chairman of theInterim Committee.2

The Committee recommends that the Board of Governors of theFund thank the Interim Committee for its work.

258

1Report I and the Resolutions contained therein were adopted by the Board of Gover-nors of the Fund in Joint Session with the Boards of Governors of the Bank, IFC, and IDA,on October 3, 1996.

2See pages 31–33.

3. 1996 Regular Election of Executive Directors

The Committee noted that the 1996 Regular Election of Executive Di-rectors of the Fund (Annex I) had taken place and that the next RegularElection of Executive Directors will take place at the Annual Meeting ofthe Board of Governors in 1998.

4. Financial Statements, Report on Audit, and Administrative and Capital Budgets

The Committee considered the Report on Audit for the FinancialYear ended April 30, 1996, the Financial Statements contained therein(Fund Document No. 7 and Appendix X of the 1996 Annual Report), and the Administrative Budget for the Financial Year ending April 30,1997 and the Capital Budget for capital projects beginning in FinancialYear 1997 (Fund Document No. 9 and Appendix IX of the 1996 AnnualReport).

The Committee recommends that the Board of Governors of the Fundadopt the draft Resolution set forth in Fund Document No. 8.3

5. Amendments of Rules and Regulations

The Committee has reviewed and noted the letter of the Managing Di-rector and Chairman of the Executive Board to the Chairman of the Boardof Governors, dated October 1, 1996, reproduced as Fund Document No. 10, regarding amendments of the Rules and Regulations set forth inAnnex I to that document (Annex II).

The Committee recommends that the Board of Governors of theFund adopt the draft Resolution set forth in Annex II of Fund DocumentNo. 10.4

Approved:

/s/ Eduardo Aninat /s/ Fernando Teixeira dos SantosChile—Chairman Portugal—Reporting Member

COMMITTEE REPORTS 259

3Resolution No. 51-4; see page 273.4Resolution No. 51-5; see page 274.

Annex I to Report I

REGULATIONS FOR THE CONDUCT OF THE 1996REGULAR ELECTION OF EXECUTIVE DIRECTORS

1. Definitions: In these Regulations, unless the context will otherwiserequire:

(a) “Articles” means the Articles of Agreement of the Fund.

(b) “Board” means the Board of Governors of the Fund.

(c) “Chairman” means the Chairman or Vice-Chairman acting asChairman of the Board.

(d) “Governor” includes the Alternate Governor or any temporary al-ternate Governor when acting for the Governor.

(e) “Secretary” means the Secretary or any Acting Secretary of theFund.

(f) “Election” means the 1996 Regular Election of Executive Directors.

(g) “Eligible votes” means the total number of votes that can be castin an election.

2. Date of Election: The election shall be held during a plenary sessionof the Annual Meeting on Wednesday, October 2, 1996.

3. Eligibility: The Governors eligible to vote in the election shall be allof the Governors except those of the members that:

(a) are entitled to appoint an Executive Director pursuant to Article XII,Section 3(b)(i);

(b) have notified the Managing Director, in accordance with the proce-dure established by the Executive Board, of their intention to ap-point an Executive Director pursuant to Article XII, Section 3(c);and

(c) have had their voting rights suspended under Article XXVI, Sec-tion 2(b).

4. Schedule E: Subject to the Supplementary Regulations set forthherein, the provisions of Schedule E of the Articles shall apply to theconduct of the election.

5. Number of Executive Directors to Be Elected: Nineteen Executive Di-rectors shall be elected. “Nineteen persons” shall be substituted for“fifteen persons” in paragraphs 2, 3, and 6, “eighteen persons” shall besubstituted for “fourteen persons,” and “nineteenth” shall be substi-tuted for “fifteenth” in paragraph 6 of Schedule E.

260 SUMMARY PROCEEDINGS, 1996

6. Proportion of Votes Required to Elect: In paragraphs 2 and 5 of Sched-ule E, “four percent” and in paragraphs 3, 4, and 5, “nine percent”shall not be changed.

7. Nominations:

(a) Any person nominated by one or more Governors eligible to vote inthe election shall be eligible for election as an Executive Director.

(b) Each nomination shall be made on a nomination form furnishedby the Secretary, signed by the Governor or Governors making thenomination, and deposited with the Secretary.

(c) A Governor may nominate only one person.

(d) Nominations may be made until 12 o’clock noon on the day be-fore the day on which the election is scheduled to be held. TheSecretary shall post and distribute a list of the candidates.

8. Supervision of the Election: The Chairman shall appoint such tellersand other assistants and take such other actions as he deems necessaryfor the conduct of the election.

9. Ballots and Balloting:

(a) One ballot form shall be furnished, before a ballot is taken, to eachGovernor eligible to vote. On any particular ballot, only ballotforms distributed for that ballot shall be counted.

(b) Each ballot shall be conducted by the deposit of ballot forms,signed by Governors eligible to vote, in a ballot box.

(c) When a ballot has been completed, the Chairman shall cause theballots to be counted and the names of the persons elected to beannounced promptly after the tellers have completed their tally ofthe ballot forms. If a succeeding ballot is necessary, the Chairmanshall announce the names of the candidates to be voted on and themembers whose Governors are entitled to vote.

(d) If the tellers shall be of the opinion that any particular ballot is notproperly executed, they shall, if possible, afford the Governorconcerned an opportunity to correct it before tallying the results,and such ballot form, if so corrected, shall be deemed valid.

(e) If a Governor does not vote for any candidate when entitled to doso, he shall not be entitled to vote on any subsequent ballot, andhis votes shall not be counted under Article XII, Section 3(i)(iii)toward the election of any Executive Director.

(f) If at any time of any ballot a member does not have a duly ap-pointed Governor, such member shall be taken not to have votedon that ballot.


(g) If a second or subsequent ballot would be required under Sched-ule E, but the number of remaining candidates is equal to the num-ber of vacancies to be filled, those candidates shall be deemed tohave been elected on the preceding ballot, provided that para-graph 14 of these Regulations shall apply.

10. If on any ballot there are more candidates than the number of Execu-tive Directors to be elected and two or more candidates tie with thelowest number of votes, no candidate shall be ineligible for election inthe next succeeding ballot, but if the same situation is repeated on suchsucceeding ballot, the Chairman shall eliminate by lot one of the can-didates from the following ballot.

11. If any two or more Governors having an equal number of votes shallhave voted for the same candidate and the votes of one or more, butnot all, of such Governors could be deemed under paragraph 4 ofSchedule E to have raised the total votes received by the candidateabove nine percent of the eligible votes, the Chairman shall determineby lot the Governor or Governors, as the case may be, who shall be en-titled to vote on the next ballot.

12. When on any ballot the number of candidates is the same as the num-ber of Executive Directors to be elected, and no candidate is deemedto have received more than nine percent of the eligible votes, each can-didate shall be considered elected by the number of votes received,even though a candidate may have received less than four percent ofthe eligible votes.

13. If the votes cast by a Governor raise the total votes received by a candi-date from below to above nine percent of the eligible votes, the votescast by the Governor shall be deemed, under paragraph 4 of Schedule E,not to have raised the total votes of the candidate above nine percent.

14. Any member whose Governor has voted on the last ballot for a candi-date not elected may, before the effective date of the election as setforth in Section 16 below and subject to the limits specified above onthe total number of votes that may be cast toward the election of anExecutive Director, designate an Executive Director who was elected,and that member’s votes shall be deemed to have counted toward theelection of the Executive Director so designated.

15. Announcement and Review of Result:

(a) After the last ballot, the Chairman shall cause to be distributed astatement setting forth the result of the election.

(b) The Board of Governors, at the request of any Governor, will re-view the result of the election in order to determine whether, in


light of the objectives set forth in Chapter 0, Section 2 of the Re-port by the Executive Directors to the Board of Governors on theProposed Second Amendment to the Articles of Agreement, an ad-ditional Executive Director should be elected to serve for the termof office commencing November 1, 1996.

16. Effective Date of Election of Executive Directors: The effective dateof election shall be November 1, 1996, and the term of office of theelected Executive Directors, and of any Executive Director appointedunder Article XII, Section 3(c), shall commence on that date. Incum-bent elected Executive Directors shall serve through October 31, 1996.

17. General: Any question arising in connection with the conduct of theelection shall be resolved by the tellers, subject to appeal, at the re-quest of any Governor, to the Chairman and from him to the Board.Whenever possible, any such question shall be put without identifyingthe members or Governors concerned.

As approved by Board of Governors Resolution No. 51-3, August 26, 1996

STATEMENT OF RESULTS OF ELECTION, OCTOBER 2, 1996

Members Whose VotesCandidate Elected Counted Toward Election5 Number of Votes

Abdulrahman A. Al-Tuwaijri Saudi Arabia 51,556______

Thomas A. Bernes Antigua and Barbuda 335The Bahamas 1,199Barbados 739Belize 385Canada 43,453Dominica 310Grenada 335Ireland 5,500Jamaica 2,259St. Kitts and Nevis 315St. Lucia 360St. Vincent and the Grenadines 310______

55,500______


5Somalia did not participate in this election. Sudan and Zaïre did not participate owingto the suspension of the voting rights of these members under Article XXVI, Section 2(b).

Members Whose VotesCandidate Elected Counted Toward Election Number of Votes

Enzo R. Grilli Albania 603Greece 6,126Italy 46,157Malta 925Portugal 5,826San Marino 350______

59,987______

Dinah Z. Guti Angola 2,323Botswana 616Burundi 822Eritrea 365Ethiopia 1,233The Gambia 479Kenya 2,244Lesotho 489Liberia 963Malawi 759Mozambique 1,090Namibia 1,246Nigeria 13,066Sierra Leone 1,022South Africa 13,904Swaziland 615Tanzania 1,719Uganda 1,589Zambia 3,885Zimbabwe 2,863______

51,292______

Daniel Kaeser Azerbaijan 1,420Kyrgyz Republic 895Poland 10,135Switzerland 24,954Tajikistan 850Turkmenistan 730Uzbekistan 2,245______

41,229______

Alexandre Kafka Brazil 21,958Colombia 5,863Dominican Republic 1,838



Ecuador 2,442Guyana 922Haiti 857Panama 1,746Suriname 926Trinidad and Tobago 2,718______

39,270______

Willy Kiekens Austria 12,133Belarus 3,054Belgium 31,273Czech Republic 6,146Hungary 7,798Kazakstan 2,725Luxembourg 1,605Slovak Republic 2,824Slovenia 1,755Turkey 6,670______

75,983______

Abbas Mirakhor Afghanistan, Islamic State of 1,454Algeria 9,394Ghana 2,990Iran, Islamic Republic of 11,035Morocco 4,527Pakistan 7,832Tunisia 2,310______

39,542______

Aleksei Mozhin Russian Federation 43,381______

A. Shakour Shaalan Bahrain 1,078Egypt 7,034Iraq 5,290Jordan 1,467Kuwait 10,202Lebanon 1,710Libya 8,426Maldives 305Oman 1,444Qatar 2,155Syrian Arab Republic 2,349



United Arab Emirates 4,171Yemen, Republic of 2,015______

47,646______

M.R. Sivaraman Bangladesh 4,175Bhutan 295India 30,805Sri Lanka 3,286______

38,561______

Eva Srejber Denmark 10,949Estonia 715Finland 8,868Iceland 1,103Latvia 1,165Lithuania 1,285Norway 11,296Sweden 16,390______

51,771______

Juan José Toribio Costa Rica 1,440El Salvador 1,506Guatemala 1,788Honduras 1,200Mexico 17,783Nicaragua 1,211Spain 19,604Venezuela 19,763______

64,295______

Ewen L. Waterman Australia 23,582Kiribati 290Korea 8,246Marshall Islands 275Micronesia, Federated

States of 285Mongolia 621New Zealand 6,751Papua New Guinea 1,203Philippines 6,584Seychelles 310



Solomon Islands 325Vanuatu 375Western Samoa 335______

49,182______

J.A.H. de Beaufort Wijnholds Armenia 925Bosnia and Herzegovina 1,462Bulgaria 4,899Croatia 2,866Cyprus 1,250Georgia 1,360Israel 6,912Macedonia, former Yugoslav

Republic of 746Moldova 1,150Netherlands 34,692Romania 7,791Ukraine 10,223______

74,276______

Koffi Yao Benin 703Burkina Faso 692Cameroon 1,601Cape Verde 320Central African Republic 662Chad 663Comoros 315Congo 829Côte d’Ivoire 2,632Djibouti 365Equatorial Guinea 493Gabon 1,353Guinea 1,037Guinea-Bissau 355Madagascar 1,154Mali 939Mauritania 725Mauritius 983Niger 733Rwanda 845São Tomé and Príncipe 305Senegal 1,439



Togo 793______19,936______

ZAMANI Abdul Ghani Brunei Darussalam 1,750Cambodia 900Fiji 761Indonesia 15,226Lao People’s Democratic

Republic 641Malaysia 8,577Myanmar 2,099Nepal 770Singapore 3,826Thailand 5,989Tonga 300Vietnam 2,666______

43,505______

ZHANG Zhixiang China 34,102______

A. Guillermo Zoccali Argentina 15,621Bolivia 1,512Chile 6,467Paraguay 971Peru 4,911Uruguay 2,503______

31,985______

/s/ Koiari Tarata /s/ Maria Ramos Teller Teller

Annex II to Report I

October 1, 1996

Dear Mr. Chairman:

In accordance with Section 16 of the By-Laws, the attached amend-ment of the Rules and Regulations adopted since the 1995 regular meeting(Attachment I) is submitted for review by the Board of Governors. A draftResolution for approval by Governors appears in Attachment II.


The Executive Board decided in 1980 that the list and amounts of thecurrencies that determine the value of the SDR be revised with effect onJanuary 1, 1986, and on the first day of each subsequent period of fiveyears, unless it decided otherwise. The value of the SDR is based on thecurrencies of the five Fund members whose exports of goods and serviceshave the largest value in the five-year period ending twelve months beforethe effective date of the valuation. With effect from January 1, 1996, theExecutive Board determined that these currencies are the U.S. dollar, thedeutsche mark, the Japanese yen, the French franc, and the pound sterling,with percentage weights in the valuation of 39, 21, 18, 11, and 11, respec-tively. The units of these five currencies in the valuation basket were cal-culated on December 29, 1995, effective January 1, 1996, on the basis ofthe new weight for each currency and the average exchange rates for eachof the currencies in the basket for the period October–December 1995 insuch a manner as to ensure that the value of the SDR in terms of these cur-rencies was the same on December 29, 1995, under both the previous andthe revised valuation baskets. The amount of each currency was roundedto three significant digits. The revised currency amounts used to determinethe value of the SDR were incorporated in an amended Rule O-1.

The Executive Board has made no other changes in the Rules andRegulations since the last Annual Meeting.

Very truly yours,

/s/

Michel Camdessus

Managing Directorand

Chairman of the Executive Board

Chairman of the Board of Governors1996 Annual MeetingInternational Monetary Fund


ATTACHMENT I. RULES AND REGULATIONS AMENDED

SINCE THE 1995 ANNUAL MEETINGS

1. Rule O-1. Text as amended December 29, 1995, effective January 1,1996.

The value of the SDR shall be the sum of the values of the followingamounts of the following currencies:

U.S. dollar 0.582deutsche mark 0.446Japanese yen 27.2French franc 0.813pound sterling 0.105

Report III1

October 3, 1996

Mr. Chairman:

The Joint Procedures Committee met on October 2, 1996 and submitsthe following report and recommendations:

1. Development Committee

The Committee noted that the Report of the Chairman of the JointMinisterial Committee of the Boards of Governors of the Fund and theBank on the Transfer of Real Resources to Developing Countries (Devel-opment Committee) has been presented to the Boards of Governors of theFund and Bank pursuant to paragraph 5 of Resolutions Nos. 29–9 and 294of the Fund and Bank, respectively (Fund Document No. 5 and Bank Doc-ument No. 3).2

The Committee recommends that the Boards of Governors of theFund and the Bank note the report and thank the Development Committeefor its work.

2. Officers and Joint Procedures Committee for 1996/97

The Committee recommends that the Governor for the United ArabEmirates be Chairman and that the Governors for the Czech Republic and


1Report II dealt with the business of the Boards of Governors of the Bank, IFC, andIDA. Report III and the recommendations contained therein were adopted by the Boards ofGovernors of the Fund and of the Bank, IFC, and IDA in Joint Session, on October 3, 1996.

2See pages 33–37.

Malaysia be Vice-Chairmen of the Boards of Governors of the Fund andof the World Bank Group, to hold office until the close of the next AnnualMeetings.

It is further recommended that a Joint Procedures Committee be es-tablished to be available, after the termination of these meetings and untilthe close of the next Annual Meetings, for consultation at the discretion ofthe Chairman, normally by correspondence and, if the occasion requires,by convening; and that this Committee shall consist of the Governors forthe following members: Argentina, Burkina Faso, China, Colombia, CostaRica, Czech Republic, France, Germany, Japan, Kyrgyz Republic, Mada-gascar, Malaysia, the Netherlands, Norway, the Russian Federation, St. Lucia, Saudi Arabia, Senegal, Uganda, the United Arab Emirates, theUnited Kingdom, the United States, and Western Samoa.

It is recommended that the Chairman of the Joint Procedures Com-mittee shall be the Governor for the United Arab Emirates, and the Vice-Chairmen shall be the Governors for the Czech Republic and Malaysia,and that the Governor for Uganda shall serve as Reporting Member.

Approved:

/s/ Eduardo Aninat /s/ Fernando Teixeira dos SantosChile—Chairman Portugal—Reporting Member


RESOLUTIONS

Resolution No. 51-1

Direct Remuneration of ExecutiveDirectors and Their Alternates

Pursuant to Section 14(e) of the By-Laws, the 1996 Joint Committee onthe Remuneration of Executive Directors and Their Alternates on June 19,1996 directed the Secretary of the Fund to transmit its report and recom-mendations to the Board of Governors of the Fund. The Committee’s reportcontained the following proposed Resolution for adoption by the Board ofGovernors.

In accordance with Section 13 of the By-Laws, the following Resolu-tion was submitted to the Governors on June 21, 1996 for a vote withoutmeeting:

RESOLVED:

That, effective July 1, 1996, the annual rates of remuneration of theExecutive Directors of the Fund and their Alternates pursuant to Sec-tion 14(e) of the By-laws shall be as follows:

(i) As salary, $135,880 per year for Executive Directors and$115,950 per year for their Alternates;

(ii) As supplemental allowance (for expenses, including housing andentertainment expenses, except those specified in Section 14(f) ofthe By-Laws), $9,000 per year for Executive Directors and$7,200 per year for their Alternates.

The Board of Governors adopted the foregoing Resolution, effectiveAugust 5, 1996.

Resolution No. 51-2

Forthcoming Annual Meetings

The Executive Board decided on July 15, 1996 that action in connec-tion with the places and dates of forthcoming Annual Meetings from 1998through 1999 should not be postponed until the next regular meeting ofthe Board of Governors.

In accordance with Section 13 of the By-Laws, the following Resolutionwas submitted to the Governors on July 19, 1996 for a vote without meeting:

272

RESOLVED:

That the 1998 and 1999 Annual Meetings shall be convened in Wash-ington, D.C. beginning on October 6, 1998, and on September 28,1999;

That the invitation of the Government of the Czech Republic to holdthe Annual Meetings in Prague in 2000 be accepted; and

That the 2000 Annual Meetings be convened on Tuesday, Septem-ber 26, 2000.The Board of Governors adopted the foregoing Resolution, effective

August 26, 1996.

Resolution No. 51-3

1996 Regular Election of Executive Directors

The Executive Board resolved on July 24, 1996 that action in connec-tion with the regulations for the conduct of the 1996 regular election of Ex-ecutive Directors should not be postponed until the time of the next regu-lar meeting of the Board of Governors at which the election would takeplace.

In accordance with Section 13 of the By-Laws, the following Resolu-tion was submitted to the Governors on July 26, 1996 for a vote withoutmeeting:

RESOLVED:

(i) That the proposed Regulations for the Conduct of the 1996 Regu-lar Election of Executive Directors are hereby adopted; and

(ii) That a Regular Election of Executive Directors shall take place atthe Annual Meeting of the Board of Governors in 1998.

The Board of Governors adopted the foregoing Resolution, effectiveAugust 26, 1996.

Resolution No. 51-4

Financial Statements, Report on Audit,and Administrative and Capital Budgets

RESOLVED:

That the Board of Governors of the Fund considers the Report onAudit for the Financial Year ended April 30, 1996, the Financial State-

RESOLUTIONS 273

ments contained therein, and the Administrative Budget for the Fi-nancial Year ending April 30, 1977 and the Capital Budget for capitalprojects beginning in Financial Year 1997 as fulfilling the require-ments of Article XII, Section 7 of the Articles of Agreement and Sec-tion 20 of the By-Laws.

The Board of Governors adopted the foregoing Resolution, effectiveOctober 3, 1996.

Resolution No. 51-5

Amendments of the Rules and Regulations

RESOLVED:

That the Board of Governors of the Fund hereby notifies the Execu-tive Board that it has reviewed the amendment of Rule O-1, which hasbeen made since the 1995 Annual Meeting, and has no changes tosuggest.

The Board of Governors adopted the foregoing Resolution, effectiveOctober 3, 1996.


Interim Committee of the Board of Governorson the International Monetary System

PRESS COMMUNIQUÉ

September 29, 1996

1. The Interim Committee held its forty-seventh meeting in Wash-ington, D.C. on September 29, 1996 under the Chairmanship of Mr. Philippe Maystadt, Deputy Prime Minister and Minister of Financeand of Foreign Trade of Belgium.

2. The Committee welcomed the generally encouraging world eco-nomic and financial situation and prospects for a strengthening andbroadening of the economic expansion in 1996 and 1997. It noted theprogress toward price stability and in reducing fiscal deficits in manycountries, the improvement in exchange market conditions among themajor currencies, the continuing rapid expansion of trade and financialflows, and the growing reliance on market forces worldwide. The Com-mittee observed that:

• Developing countries are playing an increasingly significant rolein generating growth and expanding trade, with many emerging-market economies reaping the benefits of consistent implementa-tion of market-oriented policies, supported by capital inflows in-cluding sustained foreign direct investment. The performance ofmany Asian countries remains impressive: in a number of cases,moderating growth is helping to alleviate inflationary pressures.In an increasing number of African countries per capita incomesand growth prospects are improving as a result of sound policies,although serious problems remain. Many Latin American coun-tries are recovering and experiencing lower inflation after the dif-ficulties associated with the Mexican crisis. In the Middle East,strengthened adjustment efforts have enhanced growth prospectsin several countries.

• In the transition countries, continued implementation of broad-based reforms is expected to lead to a further strengthening ofgrowth performance, and inflation, though still high, is declining.

• In the industrial countries, inflation is subdued: sound expansionof output and employment has continued in the United States andsome other countries; Japan’s recovery is more firmly estab-

275

lished; and in continental western Europe, the standstill in growthhas ended and conditions are now in place for a resumption ofmore satisfactory growth.

3. The Committee noted that favorable developments in the worldeconomy reflect the implementation by many countries of policies con-sistent with the common strategy set out in the October 1994 Madrid De-claration on Cooperation to Strengthen the Global Expansion. It notedthat this strategy remained valid. It saw however a need to update andbroaden it to take account of new challenges in the changing global en-vironment, in the attached Declaration on “Partnership for SustainableGlobal Growth,” on September 29, 1996.

4. The Committee welcomed the strengthening of Fund surveillanceand the report of the Managing Director on the review of policies in thecontext of surveillance, which provides valuable lessons for the mem-bership and for the Fund on the conduct of surveillance in the new globalenvironment.

5. The Committee welcomed the Special Data Dissemination Stan-dard and was encouraged by the broad mix of industrial and emerging-market countries among its first subscribers; it urged other countries thatare in a position to subscribe to do so. It noted the recent initiation of theData Standards Bulletin Board (DSBB). It looks forward to further en-hancement of the DSBB, including the possible establishment of elec-tronic links to country data. It requested the Executive Board to completework on the general standards for data dissemination, that will apply toall countries, so that they are in place before the Spring 1997 meeting ofthe Committee.

6. With respect to the IMF’s financial resources and assistance tomembers, the Committee:

• welcomed the progress made by the Executive Board in its workon the Eleventh General Review of Quotas. In view of the evolu-tion of the Fund’s prospective liquidity position and other factors,the Committee requested the Executive Board to continue itswork on the Review and to do its utmost to reach a conclusion assoon as possible.

• welcomed the progress made in establishing the New Arrange-ments to Borrow. It noted that these Arrangements would effec-tively double the resources currently available to the Fund underthe General Arrangements to Borrow and improve the Fund’sability to meet requests for balance of payments assistance bymembers in circumstances that could have systemic implications.


It requested the participants in the New Arrangements, and theExecutive Board, to complete their work promptly. The Commit-tee urged the participating members to complete the domesticprocesses needed to bring these New Arrangements into effect assoon as possible.

7. The Committee warmly endorsed the program of action proposedby the Fund and the Bank to ensure that the heavily indebted poor coun-tries (HIPCs) that have shown a sound track record of economic adjust-ment can attain a sustainable debt situation over the medium term. It en-dorsed the conclusions by the Executive Board on financing thecontinuation of ESAF and the Fund’s participation in the Initiative to as-sist the HIPCs, to which all members are committed. It also welcomedthe agreement to transfer a portion of the ESAF reserves to support theFund’s participation in the HIPC Initiative with grants or loans on longermaturities. The Committee also welcomed the commitment by the WorldBank to the Initiative and the President’s willingness to allocate an over-all contribution to it. It welcomed the indication that the Paris Club cred-itors are ready to go beyond Naples Terms in providing debt reductionof up to 80 percent for countries qualifying for additional relief withinthe HIPC Initiative, on a case-by-case basis, according to its usual rules,to achieve an exit from an unsustainable debt. It urged other creditors toparticipate in the Initiative on an equitable basis. It also reaffirmed theimportance of the Fund’s preferred creditor status. The Committee re-quested the Executive Board to proceed quickly with implementationand to report on progress to the Committee in Spring 1997.

8. The Committee welcomed the consensus reached in the Execu-tive Board that all members should receive an equitable share of cumu-lative SDR allocations through an amendment of the Fund’s Articles ofAgreement providing for a one-time allocation of SDRs, based on a com-mon benchmark ratio of cumulative allocations to present quotas. TheCommittee endorsed this approach and requested the Executive Board tofinalize its work on the amendment by the time of the Committee’s nextmeeting. The Committee emphasized that such an amendment of the Ar-ticles would not in any way affect the Fund’s existing power to allocateSDRs on the basis of a finding of long-term global need to supplementreserves as and when that need arises.

9. The Committee asked the Executive Board to continue its analy-sis of capital flows and their implications, to examine possible changesin the Fund Articles, and to report to the Committee at its next meeting.

10. The Committee will meet again in Washington, D.C. on April 28,1997.

INTERIM COMMITTEE 277

INTERIM COMMITTEE DECLARATION

PARTNERSHIP FOR SUSTAINABLE GLOBAL GROWTH

The Interim Committee has reviewed the Declaration on Coopera-tion to Strengthen the Global Expansion, which it adopted two years agoin Madrid. It notes that the strategy set out in the Declaration, which em-phasized sound domestic policies, international cooperation, and globalintegration, remains valid. It reiterates the objective of promoting fullparticipation of all economies, including the low-income countries, inthe global economy. Favorable developments in, and prospects for, manyindustrial, developing, and transition economies owe much to the imple-mentation of sound policies consistent with the common medium-termstrategy.

The Interim Committee sees a need to update and broaden the Decla-ration, in light of the new challenges of a changing global environment,and to strengthen its implementation, in a renewed spirit of partnership. Itattaches particular importance to the following:

• Stressing that sound monetary, fiscal, and structural policies arecomplementary and mutually reinforcing: steady application ofconsistent policies over the medium term is required to establishthe conditions for sustained noninflationary growth and job cre-ation, which are essential for social cohesion.

• Implementing sound macroeconomic policies and avoiding largeimbalances are essential to promote financial and exchange ratestability and avoid significant misalignments among currencies.

• Creating a favorable environment for private savings.

• Consolidating the success in bringing inflation down and buildingon the hard-won credibility of monetary policy.

• Maintaining the impetus of trade liberalization, resisting protec-tionist pressures, and upholding the multilateral trading system.

• Encouraging current account convertibility and careful progress to-ward increased freedom of capital movements through efforts topromote stability and financial soundness.

• Achieving budget balance and strengthened fiscal discipline in amultiyear framework. Continued fiscal imbalances and excessivepublic indebtedness, and the upward pressures they put on globalreal interest rates, are threats to financial stability and durablegrowth. It is essential to enhance the transparency of fiscal policy


by persevering with efforts to reduce off-budget transactions andquasi-fiscal deficits.

• Improving the quality and composition of fiscal adjustment by re-ducing unproductive spending while ensuring adequate basic in-vestment in infrastructure. Because the sustainability of eco-nomic growth depends on development of human resources, it isessential to improve education and training; to reform public pen-sion and health systems to ensure their long-term viability and en-able the provision of effective health care; and to alleviatepoverty and provide well-targeted and affordable social safetynets.

• Tackling structural reforms more boldly, including through laborand product market reforms, with a view to increasing employmentand reducing other distortions that impede the efficient allocationof resources, so as to make our economies more dynamic and re-silient to adverse developments.

• Promoting good governance in all its aspects, including by ensur-ing the rule of law, improving the efficiency and accountability ofthe public sector, and tackling corruption, as essential elements ofa framework within which economies can prosper.

• Ensuring the soundness of banking systems through strong pru-dential regulation and supervision, improved coordination, betterassessment of credit risk, stringent capital requirements, timely dis-closure of banks’ financial conditions, action to prevent moneylaundering, and improved management of banks.

The Committee encourages the Fund to continue to cooperate withother international organizations in all relevant areas. It welcomesthe recent strengthening of Fund surveillance of member countries’policies, which is an integral part of the strategy. It reaffirmed itscommitment to strengthen the Fund’s capacity to fulfill its man-date. It will keep members’ efforts at achieving the common objec-tives of this strategy under review.

INTERIM COMMITTEE 279

INTERIM COMMITTEE

COMPOSITION

as of September 29, 1996

Philippe Maystadt, Chairman

Ibrahim A. Al-Assaf Saudi ArabiaAhmed Humaid Al-Tayer1 United Arab EmiratesJean Arthuis FranceErik Åsbrink SwedenAntonio Casas Gonzàlez VenezuelaP. Chidambaram IndiaM.A.P. Chikaonda MalawiCarlo Azeglio Ciampi ItalyKenneth Clarke United KingdomPeter Costello AustraliaDAI Xianglong ChinaJ. Soedradjad Djiwandono GabonSergei K. Dubinin Russian FederationRoque Benjamin Fernàndez ArgentinaAbdelouahab Keramane AlgeriaWataru Kubo JapanPedro Sampaio Malan BrazilPaul Martin CanadaPhilippe Maystadt2 BelgiumRobert E. Rubin United StatesKaspar Villiger SwitzerlandTheo Waigel GermanyGerrit Zalm Netherlands


Alternate attending for member:1Sultan Nasser Al-Suwaidi2Viktor Klima

Joint Ministerial Committee of the Boards of Governorsof the Bank and the Fund on the Transferof Real Resources to Developing Countries

(Development Committee)

PRESS COMMUNIQUÉ

September 30, 1996

1. The fifty-third meeting of the Development Committee was heldin Washington, D.C. on September 30, 1996 under the chairmanship ofMr. Mohamed Kabbaj, Minister of Finance and Foreign Investment ofMorocco.1

2. Resolving Debt Problems of the Heavily Indebted Poor Countries(HIPCs). The Committee expressed its appreciation to the Bank and Fundfor the progress made since its last meeting and endorsed the Action Pro-gram for the HIPC Initiative. It urged the Bank and Fund, working closelywith donors and other creditors, to move swiftly to implement the Initiative.

3. Members reiterated their support for the Initiative’s basic objec-tive—ensuring that HIPCs demonstrating a track record of sustained strongpolicy performance are able to achieve overall external debt sustainability,enabling them to exit from the rescheduling process and to strengthen theirpoverty reduction programs. They recognized that the HIPC Initiative com-mits the international financial community to take additional action to re-duce eligible countries’ debt burdens to sustainable levels where full use ofexisting debt relief mechanisms is unlikely to be sufficient.

4. Members agreed that coordinated action by all creditors was criti-cal to the Initiative’s success. The assistance to be provided by each groupof creditors should be consistent with the guiding principles agreed at theCommittee’s April 1996 meeting, and would be based on the need to: (a)deliver debt sustainability; (b) share broadly and equitably the cost of theInitiative; and (c) preserve the preferred creditor status of the multilateralfinancial institutions. Ministers stressed that the Initiative should be im-

281

1Mr. James D. Wolfensohn, President of the World Bank; Mr. Michel Camdessus, Man-aging Director of the International Monetary Fund; and Mr. Qazi Alimullah, Deputy Chair-man of the Planning Commission of Pakistan for Finance and Economic Affairs and Chair-man of the Group of Twenty-Four addressed the plenary session. Observers from a numberof international and regional organizations also attended.

plemented flexibly, on a case-by-case basis, and with full participation bydebtor governments.

5. Ministers also welcomed the commitment of the IMF, reflected inthe statement of the Interim Committee on September 29, to participatein the enhanced assistance to be provided under the HIPC Initiativethrough special ESAF operations, including long maturity loans orgrants.

6. Members supported the World Bank’s proposed $500 million ini-tial contribution and noted President Wolfensohn’s announced readinessto recommend to the Board of Executive Directors additional contribu-tions, provided future net income of the Bank would so permit, that thereis equitable burden sharing by creditors, and these funds are needed tomeet the Bank’s own share of the burden. Members supported as well theenhanced assistance (including IDA grants) the Bank intends to providein selected cases when needed.

7. Given the significant share of debt owed by the poorest and mostindebted countries to bilateral creditors, Ministers welcomed the indica-tion from the Paris Club that it was ready to go beyond Naples Terms toprovide debt reduction of up to 80 percent for countries qualifying foradditional relief within the HIPC Initiative, and that its decisions will bemade on a case-by-case basis, according to its usual rules, to achieve anexit from unsustainable debt. They suggested the Paris Club, the interna-tional financial institutions, and all involved creditors coordinate theiractions to deliver needed debt relief consistent with the Initiative’s basicprinciples noted in paragraphs 3 and 4 above.

8. Ministers welcomed the readiness to participate in the Initiativeindicated by several multilateral agencies, and urged other multilateralsto define their participation as soon as possible. The Committee agreedthat the proposed multilateral HIPC Trust Fund, to be administered byIDA, would make an effective contribution to the success of the Initia-tive. Members expressed appreciation to those bilateral donors that hadindicated at this early stage their intention to contribute to the Trust Fundand encouraged others to do so as well.

9. Ministers requested the IMF and World Bank to begin implemen-tation of the Initiative for the first potentially eligible countries beforethe end of 1996 and to report back to the Committee at its next meetingon progress achieved in implementing the Initiative.

10. International Development Association (IDA). Ministers reiter-ated their strong support for IDA and its central importance to the globaleffort to reduce poverty; therefore, it is important that all donors ensurethe success of IDA-11 by fully respecting their commitments on time.


The Committee welcomed the increased IBRD grant to IDA of $600 mil-lion this year.

11. Ministers recognized that the IDA-11 agreement reflects a sig-nificant reduction in donor contributions from previous levels. Theyasked IDA management and donor representatives to work together inthe next several months to help ensure adequate and secure future fund-ing for IDA. Ministers will discuss these and related matters as they con-sider the prospects for IDA funding at their next meeting.

12. Multilateral Investment Guarantee Agency (MIGA). Ministersnoted that MIGA’s activities had grown appreciably along with the ex-pansion of foreign private investment in developing countries. They wel-comed the recent rapid expansion in demand for MIGA services and rec-ognized that, as a result, MIGA is quickly approaching the limits of itsfinancial capacity. Ministers requested that the MIGA management andExecutive Board address MIGA’s resource constraints soon and report onthis subject at the Committee’s next meeting.

13. World Trade Organization (WTO). The Committee expressed itsappreciation to WTO Director-General Renato Ruggiero for his valuablebriefing on key issues likely to be addressed at the first WTO Minister-ial Meeting in December. Ministers agreed with Mr. Ruggiero on the im-portance of trade as a formidable engine of economic growth for all na-tions and on the opportunities and challenges offered by globalization.They requested the Bank and Fund to assist those countries not yet mem-bers of the WTO to join the organization and to assist all members, par-ticularly the poorest, to become more fully integrated into the multilat-eral trading system. Ministers expressed their support for closercollaboration between the WTO, the Fund, and the Bank and offered theDirector-General and the WTO best wishes for a successful MinisterialMeeting.

14. Next Meeting. The Committee’s next meeting will be held onApril 29, 1997 in Washington, D.C.

DEVELOPMENT COMMITTEE 283

DEVELOPMENT COMMITTEE

COMPOSITION

as of September 30, 1996

Mohamed Kabbaj, Chairman

Ibrahim Abdul Karim BahrainIbrahim Al-Assaf Saudi ArabiaAnthony A. Ani NigeriaJean Arthuis FranceFranz Blankart SwitzerlandP. Chidambaram IndiaBodi Chunnananda1 ThailandCarlo Ciampi2 ItalyKenneth Clarke United KingdomPeter Costello AustraliaRoberto F. De Ocampo PhilippinesCarlos Facetti Masulli ParaguayMohamed Kabbaj3 MoroccoWataru Kubo4 JapanLiu Zhongli ChinaPaul Martin CanadaPhilippe Maystadt BelgiumN’Goran Niamien Côte d’IvoireSauli Niinistö FinlandGuillermo Ortiz MexicoVladimir Potanin Russian FederationRobert E. Rubin United StatesCarl-Dieter Spranger GermanyGerrit Zalm5 Netherlands


Alternate attending for the member:1Chatu-Mongol Sonakul2Antonio Fazio3Mohamed Seqat4Takatoshi Kato5Johannes Pieter Pronk

Afghanistan, Islamic State of

GovernorAbdul Qader Fitrat

Alternate GovernorAbdul Haq Shinwari

Temporary Alternate GovernorH.E. Hamidullah Tarzi

Albania

GovernorKristaq Luniku

Alternate GovernorSherefedin Shehu

AdvisorsMiranda RamajLulzim SharkuMimoza Vokshi

Algeria

GovernorAbdelouahab Keramane

Alternate GovernorMohamed Laksaci

AdvisorsHocine ChebiliMohamed Ali HammoudiAmar HiouaniMohamed Amine KheneH.E. Ramtane LamamraSaid Maherzi

Angola

GovernorH.E. Mario de Alcantara Monteiro

Alternate GovernorAntonio Manuel Graca

Temporary Alternate GovernorMaria Madalena do Rego Ramalho

AdvisorsEmanuel Maravilhoso BucharttsBaptista CocaVirgilio FariaAgostinho FernandesAntonio Joaquim da Cruz LimaH.E. Jose Pedro de Morais, Jr.H.E. Franca N’DaluAdriano Rafael Pascoal

Antigua and Barbuda

GovernorD. Keith L. Hurst

Temporary Alternate GovernorH.E. Ramez Hadeed

AdvisorH.E. Lionel Hurst

Argentina

GovernorRoque Benjamin Fernandez

Temporary Alternate GovernorCarlos Rodriguez

AdvisorsAlberto R. AbadAquiles AlmansiMiguel Alberto BallestriniRicardo BrandaJose CandiotiJoaquin A. CottaniEsteban Alberto DominaH.E. Raul Granillo OcampoAna KesslerMiguel Alberto KiguelOscar LambertoCarlos MagarinosHector Maria MayaJulio NoguesJavier Ortiz

285

ATTENDANCE

MEMBERS OF FUND DELEGATIONS

Argentina (continued)

Horacio PericoliA. Humberto PetreiJorge RodriguezClaudio Augusto SebastianiFrancisco SusmelJorge VillaverdeJuan Antonio ZapataA. Guillermo Zoccali

Armenia

GovernorH.E. Levon V. Barkhoudarian

Alternate GovernorBagrat Asatryan

AdvisorsMartin HurikhanianTatoul MarkarianVardan SarkissianH.E. Rouben ShugarianHrachia Levon Yerknapetian

Australia

GovernorHon. Peter Costello

Alternate GovernorE.A. Evans

Temporary Alternate GovernorsNeil F. HydenJohn Francis Laker

AdvisorsPeter BoxallMelinda Ann CilentoRochelle Mary EdgePhilip John GartonGary JohnstonKerry A. KutchGraham NichollsLes J. PhelpsNigel RayAnthony SmithEwen L. Waterman

Austria

GovernorKlaus Liebscher

Alternate GovernorThomas Lachs

AdvisorsAndreas IttnerKlaus MuendlJohann PraderAdolf Wala

Azerbaijan Republic

GovernorH.E. Fikret H. Yusifov

Alternate GovernorVakhid Akhundov

The Bahamas

GovernorHon. William C. Allen

Alternate GovernorJames H. Smith

AdvisorsSheila CareyWendy CraiggPaul FeeneyJaneen McCartney

Bahrain

GovernorH.E. Ibrahim Abdul Karim

Alternate GovernorAbdulla Hassan Saif

AdvisorAbdulla Isa Hasan Al-Binali

Bangladesh

GovernorAkbar Ali Khan

Alternate GovernorKhorshed Alam

Barbados

GovernorTyrone Emanuel Barker

Alternate GovernorCalvin M. Springer

AdvisorsH.E. Courtney N. Blackman


Barbados (continued)

Cleviston L. HaynesGrantley Worrell Smith

Belarus

GovernorH.E. Sergei Ling

Alternate GovernorNikolai P. Korbut

AdvisorsSyargey M. DzidzenkaOlga A. KaryakinaSergey A. KostyuchenkoH.E. Serguei Nikolaevich

Martynov

Belgium

GovernorAlfons Verplaetse

Alternate GovernorGregoire Brouhns

AdvisorsGino Pierre AlzettaHiliana CoessensDaniel A.A. DacoAnne de GangBernard DelbecqueLouis de MontpellierBruno GuiotWilly KiekensJean-Jacques ReyPierre van der Haegen

Belize

GovernorRt. Hon. Manuel Esquivel

Alternate GovernorKeith A. Arnold

AdvisorsYvette AlvarezCarla Barnett

Benin

GovernorH.E. Moise Mensah

Alternate GovernorPaulin Laurent Cossi

AdvisorsHonore-Theodore AhimakinRhetice Franchy DagbaJean-Marie EhouzouFructueux GnansounouH.E. Lucien Tonoukouin

Bhutan

GovernorH.E. Dorji Tshering

Alternate GovernorSonam Wangchuk

Bolivia

GovernorJuan Antonio Morales Anaya

Temporary Alternate GovernorJavier Comboni Salinas

AdvisorsJuan Cariaga OsorioJose JustinianoAntonio Soruco

Bosnia and Herzegovina

GovernorKasim Omicevic

Alternate GovernorH.E. Mirsad Kikanovic

Temporary Alternate GovernorsH.E. Sven AlkalajZlatko HurticH.E. Novak Kondic

AdvisorsMaruf BurnazovicMladen LoncarMalik Skaljic

Botswana

GovernorChristopher L. Hermans

Alternate GovernorFreddy Modise

AdvisorsH.E. A.M. Mogwe

ATTENDANCE—MEMBERS OF FUND DELEGATIONS 287

Botswana (continued)

Michael Otsile MolefaneTapiwa MongwaMustaq Moorad

Brazil

GovernorH.E. Pedro Sampaio Malan

Alternate GovernorGustavo J. Laboissiere Loyola

Temporary Alternate GovernorsMarcos C. de PaivaH.E. Paulo Tarso Flecha de LimaAlexandre Kafka

AdvisorsJose Linaldo Gomes de AguiarPaulo Roberto de AlmeidaJose Ricardo da Costa Aguiar

AlvesMaria Celina B. ArraesJose Roberto Mendonca de

BarrosBenvindo BellucoAmaury Guilherme BierLuis Carlos Moreira CabralLuis Antonio Balduino CarneiroCarlos Eduardo DutraJoubert FurtadoManuel Jose Forero GonzalezZenik KrawctschukMauro MarcondesMario Antonio MarconiniMarcio Cartier MarquesLourenco Alonso MartinsRoberto Jaguaribe Gomes de

MattosArno MeyerHelio MoriMurilo Portugal FilhoByron Costa de QueirozTatiana RositoSergio Ruffoni GuedesElcior Ferreira de Santana FilhoLuiz Afonso Simoens da SilvaMaria Aparecida Grendene de

Souza

Brunei Darussalam

Alternate GovernorH.E. Dato Ahmad Wally Skinner

Temporary Alternate GovernorDato Yakub Abu Bakar

AdvisorsHj Abu Bakar bin Hj IbrahimHoneyta binti Haji MustaphaHj Rosli bin Hj SabtuHj Jefri bin Hj Md Salleh

Bulgaria

GovernorLubomir Vesselov Filipov

Alternate GovernorSvetoslav Veleslavov Gavriyski

AdvisorsZdravko Dimitrov BaliozovPeter I. BotoucharovH.E. Snejana Damianove

BotoucharovaIvan S. GospodovGueorgui Hristov NechevSvetlana Dimitrova PanovaTodor Marinov Staykov

Burkina Faso

GovernorH.E. Tertius Zongo

Alternate GovernorLucien Marie Noel Bembamba

Temporary Alternate GovernorMoussa Kone

AdvisorsSimplice GuibilaSouleymane Ouedraogo

Burundi

GovernorMathias Sinamenye

Alternate GovernorEmmanuel Ndayiragije

AdvisorsH.E. Severin NtahomvukiyeMartin Ogang


Cambodia

GovernorSum Nipha

Alternate GovernorTha Yao

Cameroon

GovernorH.E. Edouard Akame Mfoumou

Alternate GovernorSadou Hayatou

Temporary Alternate GovernorH.E. Jerome Mendouga

AdvisorsEnandjoun BwangaEdouard Etori a ZangAndre-Blaise Kesseng a MbassaAndre Koung a YombiRene Mbappou EjenguelleRoger Mbassa NdineAndre MbengMartin MbengJean Philippe NjeckIbrahim Talba MallaMesack TchanaPierre Titi

Canada

GovernorHon. Paul Martin

Alternate GovernorThomas A. Bernes

Temporary Alternate GovernorsIan D. ClarkHon. Douglas PetersGordon Thiessen

AdvisorsHon. Barry Campbell, M.P.Jeffrey Allen ChelskyNathalie GauthierJill E. JohnsonPaul LabbeTerrie O’LearyHon. Brent St. Denis, M.P.Alexander StuartJerry Zypchen

Cape Verde

GovernorOswaldo Miguel Sequeira

Alternate GovernorMaria de Encarnacao A. Silva

RochaAdvisor

John D.C. Hall

Central African Republic

GovernorH.E. Augustin-Rene Koyamba

Alternate GovernorAuguste Tene-Koyzoa

AdvisorsJean Paul BarrierChristophe BremaidouIsabelle Gouyomgbia-ZezeH.E. Henry KobaLucienne Perriere

Chad

GovernorH.E. Bichara Cherif Daoussa

Alternate GovernorTahir Souleyman Haggar

AdvisorsH.E. Mahamat Saleh AhmatHassan Adoum BakhitBidjere BindjakiLemaye Favitsou-BoulandiHassan Ousmane

Chile

GovernorH.E. Eduardo Aninat

Alternate GovernorJorge Marshall Rivera

Temporary Alternate GovernorGuillermo R. Le Fort Varela

AdvisorsH.E. John BiehlJulio BustamanteAlberto Chacon OyanedelCarlos Cruz


Chile (continued)

Maria del Carmen DominguezMatias FornoAlejandro Daslav Jadresic

MarinovicJorge LeivaMario C. MatusJose Luis MorelFelipe PerucciRegina RodriguezAndres Sanfuentes VergaraAndres R. SolimanoMarta Tonda

China

GovernorDai Xianglong

Alternate GovernorZhou Xiaochuan

Temporary Alternate GovernorsCai EshengDi WeipingJin QiWei BenhuaYe RuanZhang FengmingZhang Zhixiang

AdvisorsBai YongjieDing ShuangHan MingzhiHe JianxiongHuang XinghaiLiu FushouPang WeiyaPeng YipingSong JianqiSun MingchunWang YanzhiZheng Hong

Colombia

GovernorMiguel Urrutia Montoya

Temporary Alternate GovernorsMonica Aparicio Smith

Hernando Jose GomezSalomon Kalmanovitz KrauterOscar Marulanda Gomez

AdvisorsJulio Cesar Angel MejiaMaria Carmenza Arenas de

McLeanFrancisco Azuero ZunigaAlberto CalderonMaria Luisa Chiappe de Villa

Comoros

GovernorH.E. Dahilou Ben Omar

Temporary Alternate GovernorCheikh Housseine

AdvisorOubeidi Mze Chei

Congo

GovernorH.E. Nguila Moungounga-

NkomboAlternate Governor

Ange-Edouard PounguiAdvisors

Mbow Amphas MampouaH.E. Dieudonne Antoine-GangaFidele Emile KayaAnge Gaston Mabiala-NgoulouHilaire MavoungouEmmanuel NgonoJacqueline Claire NzalankaziAndre TentokoloCelestin Tsassa

Costa Rica

GovernorRodrigo Alberto Bolanos

ZamoraAlternate Governor

Eddy Rodriguez CespedesTemporary Alternate Governors

Carlos Espinach PhillipsH.E. Sonia Picado SotelaSylvia Saborio Alvarado


Costa Rica (continued)

H.E. Alejandro SotoAdvisors

William Calvo V.Jorge Rivera

Côte d’Ivoire

GovernorH.E. N’Goran Niamien

Alternate GovernorTiemoko Meyliet Kone

Temporary Alternate GovernorCharles Konan Banny

AdvisorsAbdoulaye Bio TchaneJean Roger BouaKindo BouadiEba Julien BouadouMoustapha DiabiAdamoh Djelhi Yahot MoliereEphrem EnohEsso Elie NomelBallou GeorgesYao Agbo N’De HounouviN’Zi JosephNamory KaramokoMichel Komlanvi KloussehMarcel KodjoMamadou KoneKonan Victor KouameGeorges KouassiKouame KouassiRoger KouassiH.E. Koffi Moise KoumoueDiant LeopoldGuy M’BengueN’Guessan Martin M’BouaLeon NakaEmma SacreDaouda TanonFrancois YaoYao Sahi KablanBoni Yayi

Croatia

GovernorMarko Skreb

Alternate GovernorZdravko Rogic

AdvisorsJadranka GranicHelena LenacDuro NjavroNenad PorgesTomislav PresecanDubravko RadosevicJosip Starcevic

Cyprus

GovernorA.C. Afxentiou

Alternate GovernorH.G. Akhniotis

AdvisorGeorgios A. Kyriacou

Czech Republic

Alternate GovernorVladimir Rudlovcak

Temporary Alternate GovernorMiroslav Hrncir

AdvisorsJiri JonasLumira KafkovaAlena RadkovaRadek Urban

AssistantPetr Sedlacek

Denmark

GovernorMogens Lykketoft

Alternate GovernorBodil Nyboe Andersen

Temporary Alternate GovernorsMichael DithmerHenrik W. FugmannKai Aaen HansenJens Thomsen

AdvisorsBenny AndersenRolf EjlertsenSoren Gade


Denmark (continued)

Niels Peter HahnemannMay-Britt HarringKaare E. JansonPeter Mogensen

Djibouti

GovernorDjama Mohamoud Haid

Alternate GovernorAhmed Osman Ali

AdvisorsOumar KassogueSimon MibrathuHachi Abdillahi Orah

Dominica

GovernorGladstone Bonnick

Alternate GovernorGilbert Williams

AdvisorAubrey Garcia

Dominican Republic

GovernorHector Manuel Valdez Albizu

Temporary Alternate GovernorClarissa de la Rocha

AdvisorsFederico CuelloJulio C. EstrellaJose Alfredo GuerreroEduardo Selman

Ecuador

GovernorAlvaro Noboa P.

Alternate GovernorAugusto P. De La Torre

Temporary Alternate GovernorsAna Lucia Armijos HidalgoCarlos Julio Emanuel Moran

AdvisorsSantiago Bayas Paredes

Ana Lucia CoronelMaria del Carmen de Guzman

de MorlaJuan FrancoDavid Alberto Goldbaum

MoralesGustavo A. MarriottVicente Munoz ScaldafferryEdison Ortiz-DuranEduardo Pozo CaminerFernando Salazar Arrarte

Egypt

GovernorH.E. Mohieddin El-Gharib

Alternate GovernorIsmail Hassan Mohamed

AdvisorsMohamed Awney A. MahfouzMohamed Ahmed DawoodAbdel Karim Abdel HadyAhmad Hosni

El Salvador

GovernorJose Roberto Orellana Milla

Temporary Alternate GovernorsH.E. Ramon Gonzalez GinerRoberto Jimenez OrtizRene Antonio Leon Rodriguez

AdvisorsH.E. Jose Roberto AndinoGino BettaglioJuan Jose Daboub AbdalaHector Miguel Dada SanchezYolanda de GavidiaMaria de Lourdes de SandovalGuillermo FunesHector Roberto Gonzalez

UrrutiaH.E. Manuel Guiterrez RuizH.E. Ana Cristina Sol

Equatorial Guinea

GovernorH.E. Marcelino Oyono Ntutumu


Equatorial Guinea (continued)

Alternate GovernorMartin-Crisantos Ebe Mba

AdvisorsHermes Ela MifumuBaltasar Esono-Eworo NfonoDamian Ondo Mane

Eritrea

GovernorTekie Beyene

Alternate GovernorGhebriel Fassil

AdvisorTsehai Habtemariam

Estonia

GovernorVahur Kraft

Alternate GovernorHeldur Meerits

AdvisorsAare JarvanKatrin KaskMait MartinsonAndres Trink

Ethiopia

GovernorDubale Jale

Temporary Alternate GovernorAto Ibrahim Abdullahi

ZeidyAdvisors

Assefa AbrahaH.E. Berhane Gebre-ChristosAlazar DessieAto Jenenew AyeleAto Tilahun Abbay

Fiji

GovernorJ.Y. Kubuabola

Alternate GovernorSavenaca Narube

Temporary Alternate GovernorLionel Yee

AdvisorSolomone S. Kotobalavu

Finland

GovernorSirkka Hamalainen

Alternate GovernorEsko Juhani Ollila

Temporary Alternate GovernorKjell Peter Soederlund

AdvisorsMarkus FogelholmKerstin M. HeinonenTaina Sinikka KiekkoJarmo Pesola

France

GovernorH.E. Jean Arthuis

Alternate GovernorHerve Hannoun

Temporary Alternate GovernorMarc-Antoine Autheman

AdvisorsElisabeth Ardaillon-PoirierSerge ArnaudJean BensaidNicolas R.F. BlancherJean-Francois BoittinH.E. Francois Bujon de l’EstangPierre CailleteauBruno DeletreChristian DurandAmbroise FayolleRene ForcevilleThierry FrancqPierre Michel FremannH.E. Jacques GodfrainJerome HaasMathias HautefortJuliette LafontMarc LautreJanie LetrotFrancis Mayer


France (continued)

Antoine MerieuxXavier MuscaDanielle Noirclerc-SchoenbergHelene ParisBertrand PousLuc RigouzzoMarc-Olivier Strauss-KahnHenri-Luc ThibaultDaniel Voizot

Gabon

GovernorH.E. Marcel Doupamby

MatokaAlternate Governor

Jean-Paul LeyimangoyeAdvisors

Michael AdandeEngone AlexandreH.E. Paul Boundoukou-

LathaMarie-Louise Enie KombilaRigis ImmongaultMartine Koumba MabialaM. Meye-BekourouJean Bruno ModokoHyacinthe Mounguengui-

MouckagaJean de Dieu MounguenouLuc OyoubiPascal Youbi-Lagha

The Gambia

GovernorMomodou Clarke Bajo

Alternate GovernorMomodou A. Ceesay

Georgia

GovernorNodar Javakhishvili

Alternate GovernorH.E. Temur Basilia

AdvisorsGeorge GachechiladzeMamuka Tsereteli

Germany

GovernorHans Tietmeyer

Alternate GovernorH.E. Theo Waigel

Temporary Alternate GovernorsBernd EsdarKlaus P. ReglingG. Michael RoeskauHelmut Schieber

AdvisorsIda Maria AschenbrennerKarl Heinz BischofbergerBrigitte di PietroWolf-Dieter DoneckerBarbara EckrichJochen FeilckeGisela FrickBernd GoosBeate GrzeskiAndreas GuennewichSabine HaderDietrich HartensteinRobert J. HeinbuecherKristin HeyneGuenter HofmannErwin HuberOtmar IssingHubert KnirschManfred J. KoerberMarianne KotheBritta KraegenowDirk Heiner KranenNikolaus LambsdorffHelga Marhofer-FerlanFrank MerteFriedrich MerzRuediger MessalKarl-Heinz NoehrbassUwe-Jens RoesselAdolf RothBernd ScheelenVolker Schlegel


Germany (continued)

Guenter SchluckebierFrithjof SchmidtWolfgang SchmittManfred SchubertIrmgard SchwaetzerKarl StarzacherRolf Guenther ThumannSusanne TiemannErnst WeltekeRolf WenzelMichael Wisser

Ghana

GovernorGodfried Kportufe Agama

AdvisorsOsa AhinakwahJoseph AmamooAmarquaye ArmarAnnan CatoSteve DadzieNana Effah-ApentengJoe KlemesuPercival Alfred KuranchieChris NarteyJuaben-Boaten SiriboeH.E. Ekwow Spio-GarbrahKojo ThompsonHenry A. Kofi WampahJoseph Addo Yamoah

Greece

GovernorLucas D. Papademos

Alternate GovernorNikolaos C. Garganas

AdvisorsLeonidas AnaiadisAnna ConstantinidouNikolaos CoumbisAnastassios GiannitsisSpyros P. PapanicolaouPanagiotis A. PliatsikasKonstantinos Zevgaridis

Grenada

GovernorLinus Spencer Thomas

Alternate GovernorGregory Renwick

AdvisorsH.E. Denis G. AntoineJoelle BudhooJames Fleming

Guatemala

GovernorWilly Waldemar Zapata

SagastumeTemporary Alternate Governors

Maria Antonieta de BonillaEdwin Haroldo Matul Ruano

AdvisorsAlfredo BlancoMario Alberto Garcia-LaraMayra Palencia Prado

Guinea

GovernorIbrahima Kassory Fofana

Alternate GovernorIbrahima Cherif Bah

AdvisorsBoubacar BahFrederick BangouraAlpha BarryKerfalla CamaraAlkaly M. DaffeMouctar DiabateMamadou Sagale DialloRameline KambaYoussouf SyllaH.E. Mohamed Ali ThiamFatima K. ToureSekou Traore

Guinea-Bissau

GovernorLuis Candido Lopes Ribeiro

Alternate GovernorAguinaldo Embalo


Guyana

GovernorHon. Bharrat Jagdeo

Temporary Alternate GovernorGobind Nauth Ganga

AdvisorGanga P. Ramdas

Haiti

GovernorLeslie Delatour

Alternate GovernorRoland Pierre

AdvisorsRene Wiener AubourgEric PierreClaude Pierre-LouisFrantz Verella

Honduras

GovernorHugo Noe Pino

Temporary Alternate GovernorsPompeyo AguilarJesus Ernesto Anariba AlvarengaJorge Castellanos

AdvisorsFeliciano HerreraSandra Martinez de Midence

Hungary

GovernorGyorgy Suranyi

Temporary Alternate GovernorsSandor CzirjakCsaba Laszlo

AdvisorsAkos CseresBea Szombati

Iceland

GovernorBirgir Isl. Gunnarsson

Temporary Alternate GovernorBenedikt Arnason

AdvisorsIngimundur FridrikssonOlafur IsleifssonAxel Runar Palmason

India

GovernorHon. P. Chidambaram

Alternate GovernorChakravarty Rangarajan

Temporary Alternate GovernorsShankar N. AcharyaY. Venugopala ReddyM.R. Sivaraman

AdvisorsSandip GhoseRamalinga KannanK.V. PratapJairam RameshSudhakar RaoVishwapati TrivediNarayan ValluriAsuri VasudevanSameer Vyas

Indonesia

GovernorJ. Soedradjad Djiwandono

Alternate GovernorDono Iskandar Djojosubroto

Temporary Alternate GovernorJ.E. Ismael

AdvisorsSjamsul ArifinSubarjo JoyosumartoTarmiden Sitorus SumitroSulastinah TirtonegoroSoekarno Wirokartono

AssistantsIgnatius HardijantoHarmantaSugeng

Iran, Islamic Republic of

GovernorH.E. Mohsen Nourbakhsh


Iran, Islamic Republic of (continued)

Alternate GovernorMohammad Javad Vahaji

AdvisorsAhmad AbediyehAziz FarrashiHassan GolrizHossein JavaheriMohammad-Hadi MahdavianAbbas MirakhorSeyed Morteza MirzohrehMohammad Taghi SadeghiAsad Shahid-SallesMohammad Reza ShojaeddiniAli Ziraknejad

Iraq

GovernorH.E. Hikmet M. Al Azawi

Temporary Alternate GovernorAssim Mohamed Saleh

Ireland

GovernorHon. Ruairi Quinn, T.D.

Alternate GovernorMaurice O’Connell

Temporary Alternate GovernorsPadraig McGowanPol O’DuibhirNoel O’GormanCharles X. O’LoghlinGeorge ReynoldsMichael J. Somers

AdvisorsBrian HilleryAdrian J. KearnsJoseph LennonPhilomena MurnaghanCiaran O’MaraHannah O’RiordanKate Slattery

Israel

GovernorH.E. Dan Meridor

Alternate GovernorDavid Klein

Temporary Alternate GovernorGideon Schurr

AdvisorsJonathan Bahar EnglerMarina BardaYoram Joseph Ben-RavehDan CatarivasEldad FresherRachel HirchlerAzriel LevyShulamit PessachSylvia PitermanAharon YaarEliahu Ziv Zitouk

Italy

GovernorHon. Carlo Azeglio Ciampi

Alternate GovernorVincenzo Desario

AdvisorsFrancesco AlfonsoAntonio BandiniFabrizio BefaniGian Paolo CavaraiPier Antonio CiampicaliAngelo CicognaFabrizio CostaGiancarlo del BufaloGiorgio GomelEnzo R. GrilliVittorio GrilliVincenzo La ViaFrancesca MannoGuiseppe MarescaLuigi Effisio MarrasFrancesca MercusaTommaso Padoa-SchioppaFranco PassacantandoPaolo PeluffoAntonio Puri PuriniStefano RoncaFabrizio SaccomanniH.E. Ferdinando SalleoCarlo Santini


Italy (continued)

Giuseppe SchlitzerVittorio TedischiMario VattaniAugusto Zodda

Jamaica

GovernorHon. Omar Davies

Alternate GovernorDerick Latibeaudiere

AdvisorsH.E. Richard BernalHilary BrownColin BullockPamela Coke HamiltonWinsome LeslieRoderick RainfordLocksley S. Smith

Japan

GovernorH.E. Wataru Kubo

Alternate GovernorYasuo Matsushita

Temporary Alternate GovernorsHideichiro HamanakaMotomichi IkawaTadashi IwashitaTakatoshi KatoHachiro MesakiAkira NagashimaKosuke NakahiraTsuneo NishidaAtsuo NishiharaEisuke SakakibaraHiroshi Toyoda

AdvisorsHideo AraiSusumu AtsugiMasahiko HaraNobuhito HoboKiyoto IdoMitsutaka InagakiAkira KamitomaiMasato KandaDaikichi Monma

Takashi MurakamiShuzo NakamuraMasaki OmuraHideaki OnoYukio SaruhashiNaoyuki ShinoharaTakashi ShinozukaMasahiro SugitaNaoki TabataMasahiko TakedaRintaro TamakiShinji TaniguchiKazuhito TatebeHiroshi TohyamaKenzo YamamotoTatsuo YamasakiKenjiro Yamashita

AssistantsMaymi EndohShunichi FukushimaSadaji HiranumaTakeshi InoueTetsuo KanaiYusuke KarubeTatsushi KuriharaToshimasa MaeToshiyuki MiyoshiOsamu MizuiMasahiko NakazawaAkihiro NojiriHiroshi OgushiToru OshitaChiaki OsoneZenko ShinoyamaYoshiyuki TaharaJun TomitaHiroyuki UchidaAkihiko YoshidaKazuhiro Yoshizaki

Jordan

GovernorH.E. Marwan M. Awad

Alternate GovernorZiad Fariz

Temporary Alternate GovernorMichel I. Marto


Jordan (continued)

AdvisorsMuhammad M.A. Hamadah

AbdallahRania AtallahZuhair KhouriAhmad Hasan MustafaSodqi Rashid Abdul Hadi SalehKhalid Abdul Hamid Shoman

Kazakstan

GovernorOraz A. Jandosov

Alternate GovernorZhannat Djurgalievna Ertlessova

AdvisorDauren Myrzagaliev

Kenya

GovernorMicah Cheserem

Alternate GovernorMaurice John Pette Kanga

AdvisorsChristopher Muga ChikaH.E. B.E. KipkorirSammy KiruiMark Letitoiya LesiitPeter Kimilu MathekaM.K. M’IthiriEdwin Luka OgolaChiboli Induli ShakabaCol. Moses Yator

Kiribati

GovernorHon. Beniamina Tinga

Alternate GovernorAtanteora Beiatau

Korea

GovernorH.E. Seung-Soo Han

Alternate GovernorKyung Shik Lee

Temporary Alternate GovernorsNoh-Choong HuhHoon ShimRak Yong Uhm

AdvisorsYoon Je ChoMyoung-Soo ChoiByoung-Jo ChunHee-Chun ChungJin-Ho HuhJae Sung HurJung-Ho KangJeong-Yeon KeumGwang-Lim KimHak-Ryul KimYoung-Mo KimChong Min LeeHoo-Myoung LeeJang-Yung LeeKeun-Yung LeeSang-Young LeeSung Il LeeIljae MoonHyung-Ho NaKyung-Woo NamHuhn-Gunn RoHyun-Joon Shin

Kuwait

GovernorH.E. Sheikh Salem Abdul-Aziz

Al-SabahAlternate Governor

Ali Abdulrehman Rashaid AlBader

AdvisorsSadeq J.I. Abdel Rahim ObalYoussef Al-AwadiAbdulla Ahmed Al FuwairesNabeel Ahmad Al-MannaeSheikh Salem Abdullah

Al-Ahmed Al-SabahNabil Hamoud Al-SaqabiSaleh Al-SaqabiThekrayat M. Th. S. Al-TheyabAhmad Mohammed

Abdulrehman BastakiKeith Robert Wood


Kyrgyz Republic

GovernorMarat Sultanov

Temporary Alternate GovernorHon. Talaibek Koychumanov

AdvisorsBakyt AbdrisaevArkin AtabekovAlmas T. ChukinChorobek ImashevOurkali IssaevBachtygul JeenbaevaAzamat KerimbayevUlan SarbanovAsan Usupov

Lao People’s Democratic Republic

GovernorPany Yathotou

Temporary Alternate GovernorKhemvieng Pholsena

AdvisorsH.E. Hiem PhommachanhSomsanith NhoybouakongChanthao PathammavongPuongpun SananikoneBounleuam SisongkhamKhamsouk Sundara

Latvia

Alternate GovernorEinars Repse

Temporary Alternate GovernorDainis Zelmenis

AdvisorsDanute GigaDaiga Muzikante

Lebanon

GovernorRiad Toufic Salameh

Alternate GovernorNasser Saidi

AdvisorsFrancois S. Bassil

Edward BitarMohamad B. ChatahHoussam Assad DiabVictor El-ZmeterYoussef RaggiHaroutiun SamuelianJacques Sarraf

Lesotho

GovernorAnthony Mothae Maruping

Alternate GovernorKekeletso E. Lekaka

AdvisorsH.E. Eunice M. BulanePule Nthejane

Liberia

GovernorHon. Lasanah V. Kromah

Alternate GovernorRaleigh F. Seekie

AdvisorsKonah K. BlackettEdward L. HallJ. Morenje MlawaNathaniel R. Patray, IIIEmmanuel N. ReevesTim SikloPenti Tarpeh, Jr.Nyama B. WaritayLawrence M. Yates

Libyan Arab Jamahiriya

GovernorTaher E. Jehaimi

Alternate GovernorSalem Kha. Y. Azabi

AdvisorsNuri Abdussalam BaryunMokhtar M.S. DebashiYousef Attaher HadadaSaid Abdulaati MohamedBashir Mahmud H. NahaesiMahmoud M. Shenghir


Lithuania

GovernorReinoldijus Sarkinas

Alternate GovernorVioleta Latviene

AdvisorsBirute GrikinyteDalia GrybauskaiteStasys KropasDarius Pranckevicius

Luxembourg

GovernorH.E. Jean-Claude Juncker

Alternate GovernorPierre Jaans

AdvisorsJerome HamiliusGeorges A. Heinen

Macedonia, former Yugoslav Republic

GovernorBorko Stanoevski

Alternate GovernorTome Nenovski

AdvisorElena Parnardzieva

Madagascar

GovernorH.E. Mohamady Faharoudine

Alternate GovernorGaston Edouard Ravelojaona

Temporary Alternate GovernorH.E. Pierrot J. Rajaonarivelo

AdvisorsVonintsalama AndriambololonaBiclair H.G. AndrianantoandroTantely AndrianarivoClotilde Rabenja Razana-

RamiandrisoaDaniel Ramarokoto

Malawi

GovernorM.A.P. Chikaonda

Alternate GovernorE.E. Ngalande

AdvisorsCharles S.R. ChukaP.W. MambaChadwick Lawrence MphandeH.M. NdhlovuP.K. SimbaniMiriam Chimkono WembaColleen Zamba

Malaysia

GovernorHon. Dato’ Seri Anwar bin

IbrahimAlternate Governor

Hon. Datuk Ahmad Mohd DonTemporary Alternate Governor

H.E. Dato Dali Mahmud Hashim

AdvisorsMustapha Ong AbdullahMohd. Nasir ArisZull Aznam bin HaronLatifah Merican CheongCheong Loon LaiDatuk Hadenan Abdul JalilRajmah HussainMazidah Abdul MalikMohamed AhmadDato Mohamed Munir MajidNg Chow SoonMuhd. Shahrul Ikram

YaakobZamani Abdul GhaniZeti Akhtar Aziz

Maldives

GovernorHon. Arif Hilmy

Alternate GovernorMohamed Jaleel

Mali

GovernorH.E. Soumaila Cisse


Mali (continued)

Alternate GovernorAboubacar Alhousseyni Toure

Temporary Alternate GovernorIdrissa Traore

AdvisorMahamane E. Bania Toure

Malta

GovernorFrancis J. Vassallo

Alternate GovernorJohn Agius

Temporary Alternate GovernorAlfred De Marco

Marshall Islands

GovernorMichael Konelios

Alternate GovernorAmon Tibon

Mauritania

GovernorMohamedou Ould Michel

Alternate GovernorAhmed Salem Ould Tebakh

AdvisorsAmadou DiawAly KaneFall N’GuissalyMohamed Ould AbbaAhmed Mahmoud Ould BoililAhmed Ould BoucheibaMohamed Yahya Ould Mohamed

el MokhtarSidi el Moctar Ould NagiMohamed Ould OumarouBekaye Ould Sidi MohamedAhmed Ould SidiyaH.E. Bilal Ould Werzeg

Mauritius

GovernorHon. J. Chasteau de Balyon

Alternate GovernorMitrajeet Dhaneshwar Maraye

AdvisorsPremduth AubeeluckRameswurlall Basant-RoiPeter CraigIsrahyananda DhalladooH.E. C. JesseeramsingRadhakrishna Laxman PrabhuG. Wong SoNagiub SoomaurooNeysen Udaiyan

Mexico

GovernorMiguel Mancera Aguayo

Temporary Alternate GovernorsAriel BuiraMartin M. Werner

AdvisorsSalvador AlonsoArmando BaqueiroAntonio Galicia-EscottoJavier Guzman-CalafellFernando Solis SoberanAlejandro Valenzuela

del Rio

Micronesia, Federated States of

GovernorHon. John Ehsa

Alternate GovernorLorin Robert

AdvisorsEnrico CalderonRinglen RinglenNakama Sana

Moldova

GovernorLeonid Talmaci

Alternate GovernorAndrei Cheptine

AdvisorStela Axenti


Mongolia

GovernorH.E. Puntsagiin Tsagaan

Alternate GovernorDolgormaa Buyantogtoh

Temporary Alternate GovernorHon. Mendsaihany Enhsaihan

AdvisorsTserenpuntsag BatboldWilliam BikalesH.E. Zhalbuu ChoinkhorDugeree NaranhuuKhalzkhuu NarankuuTserendaguyn Odongua

Morocco

GovernorMohamed Seqat

Temporary Alternate GovernorAbdelmalek Ouenniche

AdvisorsRachid AguassimOmar Alaoui BenhachemNajib BenamourMohammed DairiLahbib Lalame El IdrissiKarim El MansouriMustapha FarisH.E. Mohamed HamaNazha LahrichiMonkid MestassiFouad SamirAli Tricha

Mozambique

GovernorH.E. Tomaz Augusto

SalomaoAlternate Governor

Manuel ChangAdvisors

Amade Abdul AzizaBerta C. CossaYolanda Maria Ornelas

FortesH.E. Marcos G. Namashulua

Myanmar

GovernorU Kyi Aye

Alternate GovernorOmmar Sein

AdvisorsThank LwinLt. Min Zaw OoCol. Thet Win

Namibia

GovernorHon. Nangolo Mbumba

Alternate GovernorJaafar Ahmad

AdvisorsT.K. AlweendoImmanuel IyamboMichael KafidiH.E. Veiccoh Nghiwete

Nepal

GovernorSatyendra P. Shrestha

Alternate GovernorMadhab Prasad Ghimire

AdvisorsMohan Raj JoshiMukunda Prasad Sharma

Netherlands

GovernorWim F. Duisenberg

Alternate GovernorHenk J. Brouwer

Temporary Alternate GovernorsPieter StekA.H.E.M. Wellink

AdvisorsAge F.P. BakkerAnnette DeckersTom de SwaanA.J. KapteynRonald KellerJurgen P. Leijdekker


Netherlands (continued)

J.A. MaasRobert J.M. ReijnaertRaymond SaletJohan H. du Marchie SarvaasMarjan SchippersEmsley D. TrompJan Willem van den Wall BakeJohannes van der KaaijAlida H. Van EeLaura B.J. van GeestLeo Van MaareClaire van Nispen tot SevenaerRob VermaasJ. de Beaufort Wijnholds

New Zealand

GovernorRichard John Lang

Alternate GovernorAlan B. Francis

AdvisorMurray Petrie

Nicaragua

GovernorHon. Jose Evenor Taboada Arana

Alternate GovernorHon. Erwin J. Kruger Maltez

Temporary Alternate GovernorMario J. Flores

AdvisorsMario B. AlemanArturo CruzErnesto Fernandez HolmannGeorgina Guerrero GriffithEsther Ibarra CastilloDiana Krueger K.Guillermo Lugo AlanizFrancisco Mena AragonMaria Cristina MendietaEduardo Montealegre RivasMarco Antonio Narvaez BacaArmando Enrique Navarrete

MenaLeonel Teller Sanchez

Jorge Wong ValleCesar ZamoraRoberto Zamora Llanes

Niger

GovernorSaidou Sidibe

Alternate GovernorMohamed Hamil Maiga

AdvisorsYacouba AbouGilles BailletDjibrill BareMamadou DiopMahamadou GadoBoubacar SandaMoussa SangareH.E. Adamou SeydouIbrahim Soumaila

Nigeria

GovernorPaul P.A. Ogwuma

Alternate GovernorRamsay Oubromoro Mowoe

Temporary Alternate GovernorsLawson E. EgwareBenjamin D. IbeMichael Olufemi OjoAlhaji Muhammed Lawal Sule

AdvisorsAli AbubakarF. Ralf AdereleEdet Bassey AkpakpanFabian Uzukwu AlanemeJustina O. AshinzeT.A. IremirenC.O. ItsedeOkwu Joseph NnannaAbdulkareem Olabanji

OlaoyeMatthew M.C.E. Onugha

Norway

GovernorKjell Storvik


Norway (continued)

Alternate GovernorSvein Gjedrem

Temporary Alternate GovernorsJarle BergoBjorn G. Rogstad

AdvisorsNils T. EideOle Chr. FrosethErling NaperEnok OlsenSigurd SimonsenInge SkeieJohan SorbyH.E. Tom Vraalsen

Oman

GovernorH.E. Ali bin Mohammed Bin

MoosaAlternate Governor

H.E. Hamood Sangour HashimTemporary Alternate Governor

Mohamed Nasser Sulaiman Al-Jahdhami

AdvisorsMohammed Hamood Al-AsemiJawad Mohammed Jawad

Talib

Pakistan

GovernorMuhammad Yaqub

Alternate GovernorMian Tayyab Hassan

AdvisorsMeekal A. AhmedMansoor ElahiMuhammad Ashraf JanjuaKamran Aslam KhanRiaz Ahmad MalikAzizali F. MohammedSyed Mohibullah ShahH.E. Makhdoom Shahab-ud-dinM.A. Zuberi

Panama

GovernorGuillermo O. Chapman, Jr.

Temporary Alternate GovernorRene Luciani

AdvisorRogelio Novey

Papua New Guinea

GovernorKoiari Tarata, I.S.O.

Temporary Alternate GovernorMosi Kwayaila

AdvisorsBarbara AgeLoi BakaniKelly-Anne Karara BartChristopher Wariambu

Paraguay

GovernorHermes Anibal Gomez Ginard

Alternate GovernorLuis Enrique Breuer Mojoli

AdvisorsJorge Francisco Gulino FerrariMario Lujan MelgarejoCarlos T. MersanOvidio Otazu GimenezCarlos PodestaJose Enrique PujolH.E. Ubaldo ScavoneGuillermo SosaWalter Villalba

Peru

GovernorGerman Suarez Chavez

Temporary Alternate GovernorHenry Barclay Rey de Castro

AdvisorsRoberto Abusada SalahGuillermo Castaneda MungiManuel DezaGustavo Meza-CuadraErnesto Mitsumasu


Peru (continued)

Italo MunozRaul Otero BossanoH.E. Alberto Pandolfi ArbuluJorge R. Peschiera CassinelliIvan RiveraRenzo Rossini MinanCarlos SaitoEduardo Valdivia-VelardeMiguel Velasco BosshardEdgar L. Zamalloa

Philippines

GovernorGabriel C. Singson

Temporary Alternate GovernorRizalino S. Navarro

AdvisorsTirso D. Antiporda, Jr.Leonilo G. CoronelRenato DiazNestor A. Espenilla, Jr.Octavio Victor R. EspirituCelia M. GonzalezErnest C. LeungLuis C. Liwanag, IIHon. Raul Roco

Poland

GovernorH.E. Grzegorz W. Kolodko

Alternate GovernorH.E. Krzysztof Kalicki

Temporary Alternate GovernorWieslaw Szczuka

AdvisorsDanuta Gotz-KozierkiewiczMieczyslaw KaminskiH.E. Jerzy KozminskiMarek OciepkaAgnieszka Barbara RudniakJacek TomorowiczRyszard L. Wilczynski

Portugal

GovernorAntonio Jose Fernandes de Sousa

Alternate GovernorAntonio Manuel Pereira Marta

Temporary Alternate GovernorFernando Teixeira dos Santos

AdvisorsHelena Maria Franco BebianoJose Agostinho Martins de MatosH.E. Fernando Antonio Andresen

GuimaraesNuno Maria Mariano C. JonetJose Joaquim Santos RamalhoJoao N. SantosMaria Jose Rocha Vidal

Qatar

GovernorH.E. Abdullah Khalid Al-Attiyah

Alternate GovernorIssa Al Mannai

AdvisorsKhalid Bin Ahmed Al-SouwaidiSheikh Abdulrahman Bin

Jabor Al-ThaniSheikh Khalid Bin Thani

Al-ThaniMaqbool H. Khalfan

Romania

GovernorMugur Isarescu

Temporary Alternate GovernorValentina Ispas

AdvisorsDaniel DaianuDumitru GhicaAdrian George GrigoriuMagdalena ManeaAdriana Daniela MarinescuGeorge MucibabiciTraian MunteanuEugen Traian RadulescuGeorgia Tudor

Russian Federation

GovernorSergei K. Dubinin


Russian Federation (continued)

Alternate GovernorAleksandr Livshits

AdvisorsTatiana ArgunovaAlexander BekkerMikhail Lvovich BergerVladimir ChekunovAlexander ChumachenkoAndrei FilevNikolai GolovninAnatoli I. GorshkovNadezhda IvanovaMikhail I. JernovGennady KantserovMikhail KasyanovKonstantin KorishenkoAleksandr KorshunovAleksandr KosogovEkaterina KouprianovaMikhail KozhokinBoris M. LvinSergei ManezhevAleksei V. MozhinAleksandr PotemkinMikhail D. ProkhorovAleksei RasskazovAleksandr ShamrinAlexander ShokhinYaroslav SkvortsovPavel SmirnovVladimir StrelbitskiSergei TsakunovDmitri TulinSergei VasilievVitali Y. VerjbitskiAndrei VernikovOleg ViuginH.E. Yuli VorontsovSergei VybornovMikhail ZadornovAleksandr ZurabovSergei A. Zverev

Rwanda

GovernorFrancois Mutemberezi

Alternate GovernorOlivier Munyaneza

AdvisorsJean Damascene HodaliAlfred G. Kalisa

St. Kitts and Nevis

GovernorHon. Delano Bart

Alternate GovernorWendell Lawrence

AdvisorsArthur P. CampbellErasmus Williams

St. Lucia

GovernorJohn Lisle Bristol

Alternate GovernorZenith James

AdvisorsRt. Hon. John G.M. Compton

KCMGH.E. Joseph Edmunds OBER. Daniel Girard

St. Vincent and the Grenadines

GovernorRt. Hon. James F. Mitchell

Alternate GovernorDwight Venner

AdvisorsH.E. Kingsley LayneWendell Samuel

San Marino

Alternate GovernorRaffaele Giardi

Temporary Alternate GovernorRoberta Mularoni

AdvisorsDaniele BernardiRoberto BilliAldo LoperfidoMaria Serena PiselliPatrizio ToaiarRosa Zafferani


São Tomé and Príncipe

GovernorCarlos Quaresma Batista de

SousaAlternate Governor

Jose dos Ramos Lucena Ribeiroe Silva

AdvisorSeptin Martin

Saudi Arabia

GovernorH.E. Ibrahim A. Al-Assaf

Alternate GovernorH.E. Hamad Al-Sayari

Temporary Alternate GovernorAbdulrahman A. Al-Tuwaijri

AdvisorsSafwan AfifiAbdulaziz Al-AbdulkaderKhaled M. Al-AboodiAmr Al-AlweetMaher Kassem Al-AwjanAbdullah I. Al-HudaithiAbdullah Al-HugailTaymour Abdullah Ali RedaIbrahim M. Al-IssaAbdulaziz Saleh Al-JarbouMohammad Al-MazyadMedlej Al-MedlejIbrahim M. Al-MoflehMohammed Al-NafieSuleiman Al-OfiSulaiman Al-OlayanOmran Mohammed Al-OmranAbdulaziz Al-OrayerSaeed Al-QahtaniAbdulaziz Al-RabiehAbdullah Sulaiman Al-RajhiAbdulaziz Rashed Al-RashedRashed Abdulaziz Al-RashedSaud Al-SalehSaad Saud Al-SayariAli Samir Al-ShihabiAbdulaziz Saleh Al-SughayerAbdulaziz Al-TurkiSulaiman M. Al-Turki

Saud Al-YemeniSami Al-YousefAhmed S. BanajaJitendra G. BorpujariEl-Refai Kamal EisaElie El-HadjRichard R. HerbertOussama A. HimaniAbdulrahman A. JawaJamal KibbiKhalil Abdulfattah KurdiMelhem F. MelhemAbdulaziz A. O’Hali

Senegal

GovernorHon. Papa Ousmane Sakho

Alternate GovernorMamadou Lamine Loum

AdvisorsOumar BaMamadou Woury DialloSamcidine DiengPapa Salla MboupMamadou Diagna N’DiayeSeyni N’DiayeBaba Ould Sidi AbdallahH.E. Mamadou Mansour Seck

Seychelles

Alternate GovernorNorman J.D. Weber

Temporary Alternate GovernorFrancis Chang-Lang

AdvisorAbdul Gafoor Yakub

Sierra Leone

GovernorSteve M. Swaray

Alternate GovernorJ.S.A. Funna

AdvisorsPeter ChapmanRaymond O. Gilpin


Sierra Leone (continued)

Kaefen S.T. Kallay Sayo B. KanuJ. Sanpha KoromaGrahame J. Nathan

Singapore

GovernorTeh Kok Peng

Alternate GovernorLam San Ling

AdvisorsA. SelverajahTan Min-ChingZubir bin Abdullah

Slovak Republic

GovernorVladimir Masar

Alternate GovernorSergej Kozlik

AdvisorsMarian JuskoIveta LukacikovaKarol MrvaJaroslav Na’hlikVladimir RigaszTatiana SilhankovaJuraj SipkoDaniela Sviercikova

Slovenia

GovernorFrance Arhar

Alternate GovernorSamo Nucic

AdvisorsMojmir MrakMarjeta Sketa

Solomon Islands

GovernorRick Nelson Houenipwela

Temporary Alternate GovernorDerek Sikua

AdvisorsRaynick Pulesea AquillahJanardana Reddy

South Africa

GovernorChristian Lodewyk Stals

Alternate GovernorMaria Ramos

AdvisorsCharl Higgo du ToitShepherd Malusi MayatulaJ. ModiopaneMoses NgoashengChristoffel Jacobus RoetsH.E. Franklin SonnErnie J. van der MerweDanel van Rensburg

Spain

GovernorH.E. Rodrigo de Rato Figaredo

Alternate GovernorLuis Angel Rojo Duque

AdvisorsFernando BeckerGerman BejaranoJaime CaruanaJulio Duran HernandezVicente J. FernandezFederico FerrerLuis Ma. Linde de CastroPedro Antonio MerinoFrancisco OchoaH.E. Antonio OyarzabalElena PisoneroJose Maria RoldanJuan Jose Toribio Davila

Sri Lanka

GovernorHon. G.L. Peiris

Alternate GovernorAmarananda S. Jayawardena

Temporary Alternate GovernorsH.E. Jayantha Dhanapala


Sri Lanka (continued)

H.B. DisanayakaHon. C.V. GoonaratneLal JayawardenaHon. Kingsly T. Wickramaratne

AdvisorsM.N.G. de SilvaA.G. DharmawardhaneP.B. JayasunderaPrasad Kariyawasam

Suriname

GovernorH.E. Motilall Mungra

AdvisorsS. Khedoe-BharosErick Roy Vaseur

Swaziland

GovernorHon. Derek von Wissell

Alternate GovernorMartin G. Dlamini

Sweden

GovernorUrban Baeckstroem

Alternate GovernorSvante Oberg

Temporary Alternate GovernorsStefan IngvesSven-Olof Johansson

AdvisorsBengt Ake BergLennart BergstedtMartin CarlensDavid FareliusTeresa HellgrenMaja NilssonEva SrejberAke Tornqvist

Switzerland

GovernorHans Meyer

Alternate GovernorH.E. Kaspar Villiger

Temporary Alternate GovernorsUlrich GygiDaniel KaeserJean-Pierre Roth

AdvisorsChristoph BubbRoberto F. CippaGiovanni Antonio ColomboMonique DuboisBernard JaggyH.E. Carlo JagmettiHeinz KaufmannWerner Ch. KellerOscar KnappWalter NaefFritz Zurbrugg

Syrian Arab Republic

GovernorH.E. Mohammed Imady

Alternate GovernorMohammad Bachar Kabbarah

AdvisorGeorges El-Ouzone

Tajikistan

GovernorAnvarsho Muzaffarov

Alternate GovernorGoulamjon Babaev

Tanzania

GovernorHon. Simon Mbilinyi

Alternate GovernorIdris M. Rashidi

Temporary Alternate GovernorHon. Amina S. Ali

AdvisorsHamed R. HikmanyDonald Jimogi KamoriAli KarumeSingo R. MadataRichard E. Mariki


Tanzania (continued)

Gray Shwaibu MgonjaW.A. MlakiOmar Yussuf MzeePeter Efraim Mayunga NoniH.E. Mustafa Salim

Nyang’anyiJ.B. RaphaelJohn Chimile Rubambe

Thailand

GovernorRerngchai Marakanond

Temporary Alternate GovernorsChusri DaengprapaiTanya Sirivedhin

AdvisorsAcksiri BuranasiriAkrasid AmatayakulAroonsri TivakulChantavarn SucharitakulChintana Bhandu FalckPongpanu SvetarundraSoravis KrairikshSuksri Lumprasert

Togo

GovernorH.E. Barry Moussa Barque

Alternate GovernorTchotchovi Freitas

AdvisorsLt. Adjitowou KomlanH.E. Tchamdja AndjoKuaku AttipoeH.E. Boukpessi PayadowaJean-Claude D. CodjoH.E. Elom Emile K.

DadzieEssvi Yona DjokpeAyewanou A. GbeasorLulu Mensavi MensahMessangan KodjoviKossi Rotimi PaassAyewovi Demba Tignokpa

Tonga

GovernorSiosiua T.T. ’Utoikamanu

Alternate GovernorMarieta Tukuafu

AdvisorLemeki Malu

Trinidad and Tobago

GovernorHon. Brian Kuei Tung

Alternate GovernorJerry Hospedales

AdvisorsAlvin HilaireJoan JohnAlison Lewis

Tunisia

GovernorMohamed El Beji Hamda

Temporary Alternate GovernorHamed Gaddour

AdvisorsKarim Ben AhmedFerid ben TanfousH.E. Azouz EnnifarSahbi KhalfallahNejmeddine LakhalSaid M’RabetSadok RouaiBechir Trabelsi

Turkey

GovernorH. Ufuk Soylemez

Alternate GovernorGazi Ercel

AdvisorsCahit AkincyB. Sen AkmanOmer AltayYalcin AtliAli Umit GonulalIsmail Karakaya


Turkey (continued)

Aydin KaraozVural KuralAssuntina MacDonaldMelih NemliFaik OztrakGul’Nur SatirocluSureyya SerdengectiPerihan UcerAhmet Levent YenerH. Can Yesilada

Turkmenistan

GovernorIlaman Shykhyev

Temporary Alternate GovernorMichael Gladstone Brown

AdvisorChary Annaberdiev

Uganda

GovernorHon. Jehoash S. Mayanja-

NkangiAlternate Governor

Charles N. KikonyogoAdvisors

Richard KaboneroLouis Austins KasekendeDamoni KitabireNimisha Madhvani ChandariaMatthew MartinRosemary MugashaKeith MuhakaniziAnnette Mulondo Mill’CarolEmmanuel T. MutebileH.E. Edith Ssempala

Ukraine

GovernorVictor Yushchenko

Alternate GovernorMikhail O. Goncharuk

AdvisorsAnders Aslund

Valery BabichLudmila BeletskayaAndriy GoncharukSerhiy KruhlykValeriy P. KuchinskyValeriy LytvytskyNatalya NesterenkoMikhaylo ReznikOleg RybachoukOleksander SharovH.E. Yuriy ShcherbakIgor ShumiloIvan VasyunykYuriy G. Yakusha

United Arab Emirates

GovernorH.E. Sultan Nasser Al-Suwaidi

Alternate GovernorMohamed Khalfan Bin Kharbash

AdvisorsFadhel Saeed Al DarmakiAbdul Ghaffar Al-HashimiAli Mohammed AliAnis Al-JallafMohamed Al-MazrouiEbrahim M.E. Al Saman

Al-NeaimiMohamed S. Al-ShamsiNawaf Al-ZawaidehHumaid Darwish Al-KetbiAhmed M.S. FolathiAdham HamdanKhalifa Mohd. HassanD.F. McKenzieHamid NasrAbdulshakoor Tahlak

United Kingdom

GovernorRt. Hon. Kenneth Clarke, QC, MP

Alternate GovernorEdward A.J. George

Temporary Alternate GovernorsAlan P. BuddJohn Drage


United Kingdom (continued)

Huw EvansDavid PeretzJon ShieldsSir Nigel Wicks, CVO, CBE

AdvisorsChristopher AustinMartin Arnulf BrookeKate S. BrownleeAlbert Y.C. ChanMichael FootRachel GlennersterN.B. HudsonMichael Stuart KellBrenda KillenMervyn KingAlbert LamJames H. Lau, Jr.Nicholas MacphersonJames A. RoafDavid RoeJill RutterRichard TeutenDonald Y.K. TsangLoretta WongJoseph C.K. Yam, JPMiranda YipMatthew Yiu

United States

GovernorHon. Robert E. Rubin

Alternate GovernorAlan Greenspan

Temporary Alternate GovernorsDavid LiptonKarin LissakersMichael MarekBarry S. NewmanJan PiercyAlice M. RivlinJeffrey R. ShaferLawrence H. Summers

AdvisorsColin I. BradfordTerrence J. CheckiAlice M. Dear

Joseph B. EichenbergerJames H. Fall, IIINathaniel FieldsWilliam R. FordMichael B.G. FromanTimothy F. GeithnerRicki HelferAlan P. LarsonSusan LevineWilliam J. McDonoughHon. G. William MillerHon. Paul S. SarbanesL. Ronald SchemanCharles SchottaWilliam SchuerchEdwin M. TrumanTheresa WagonerDaniel Zelikow

Uruguay

GovernorHumberto Capote

Temporary Alternate GovernorAureliano Berro

AdvisorsJavier BonillaWalter CalcagnoAriel Fernandez Cova

Uzbekistan

GovernorH.E. Mulladzhanov Faizulla M.

Alternate GovernorRustam S. Azimov

AdvisorsBakhtiyor DjumaevNariman MannapbekovDilmurod D. MirkamilovH.E. Sadik S. SafaevBakhram SalakhitdinovUlugbek Y. TilyayevAisher O. Ubaidullaev

Vanuatu

GovernorSampson Ngwele


Venezuela

GovernorAntonio Casas Gonzalez

Alternate GovernorTabeila Brizuela S. de

FleszcsynskiTemporary Alternate Governor

William Larralde PaezAdvisors

Pilar AlvarezBeatriz AraujoLuis E. BerrizbeitiaEnzo Del BufaloH.E. Pedro Luis EcheverriaLeonor FilardoCarlos Hernandez DelfinoClara PasqualiAlberto Poletto PomentaAlesia Rodriguez PardoAngel RuoccoNorma Trejo de FaracoAngel German Utreras

Medina

Vietnam

GovernorH.E. Cao Sy Kiem

Alternate GovernorPham Bao Lam

AdvisorsCan Van LucNguyen Quang HuyPham Quang NgocTring Ngoc HoVu Toan

Western Samoa

GovernorHon. Tuilaepa S. Malielegaoi

Alternate GovernorsPapali’i Tommy Scanlan

Temporary Alternate GovernorsRay Ah Liki ChewlitKolone Va’ai

AdvisorSir Peter Tapsell, M.P.

Yemen, Republic of

GovernorH.E. Mohamed Ahmed

Al-GunaidAlternate Governor

Hon. Alawi Saleh Al-SalamiAdvisors

Ali Abdulrahman Al-BahrAli Lutf Al-ThourMohamed Awad Bin-HomamNasser Ali MabkhoutJamal A. NumanAhmed A. Ghaleb Saeed

Zambia

GovernorHon. Ronald Damson Siame

PenzaAlternate Governor

Jacob Mumbi MwanzaAdvisors

Mike K. ChangweM. ChisunkaPatrick S. ChiumyaD. KalyalyaH.E. Dunstan W. KamanaEdwin M. KolokoGideon B. LintiniGershom Moses MumbaLouis M. MwaleL.J. Mwananshiku

Zimbabwe

GovernorHon. Herbert M. Murerwa

Alternate GovernorLeonard Ladislas Tsumba

AdvisorsMutasa DzinotizeiM. JenaRemi G.M. KahariObert MatshalagaH.E. Amos B.M. MidziKombo James MoyanaJoseph Mubika


African Development Bank

Omar KabbajChiekh Ibrahima FallFerhat LounesDelphin G. RwegasiraKoikou Felix AssamoiInga Bjork-KlevbyThierry de LonguemarGabriel KarissaEl Sadig M. MusaSelamawit Yemaneberhan N’DiayeG.M. Woldu

African Export-Import Bank

Christopher C. EdorduJohn Washington T. OtienoTimothy M. WhalleyBenedict Okechukwu Oramah

Andean Development Corporation

Enrique Garcia RodriguezHugo Sarmiento K. Ana Mercedes BoteroIsabella Barrios

Arab Bank for Economic Development in Africa

Ahmed Harti El WardiMohamed Atta El Mannan El Ageid

Arab Fund for Economic and Social Development

Abdulatif Yousef Al-HamadIsmail Tawfiq El-ZabriMervat W. El BadawiHossam Omar

Arab Monetary Fund

Jassim Al-Mannai

Samir Ramez Abiad

Asian Development Bank

Mitsuo SatoPierre UhelD.C. AmerasingheArun B. AdarkarPaul M. DickieShoji NishimotoRobert A. SalamonFarrokh E. KapadiaJun MizuguchiRhonda BresnickEva L. Relova

Bank for International Settlements

Andrew D. CrockettAndre IcardRenato FilosaWilliam R. WhiteJohn R. LowenGerd-Peter Dittus

Bank of Central African States

Jean-Felix MamalepotJean-Baptiste Assiga-AhandaGilbert NtangRigobert Roger AndelyJoseph Nyonuchi MaisonSerge-Blaise Zoniaba

Caribbean Community

Byron W. BlakeArthur Alexander Gray

Caribbean Development Bank

Sir Neville NichollsMarius St. Rose


OBSERVERS, REPRESENTATIVES OF INTERNATIONAL

ORGANIZATIONS, AND SPECIAL INVITEES


Central African States Development Bank

Jean-Marie MbiokaJean-Marie Omog-SamnickAdoum Malloum

Central American Bank forEconomic Integration

Jose Manuel Pacas CastroFelix Garrid Safie ParadaAngel Andres Matuty GutierrezVictor Portnoy Jaime Chavez AlmendaresCarlos Arturo Sanchez RendonMaria del Pilar Escobar PacasRoberto ArtaviaDanilo Lacayo

Central American Monetary Council

Manuel Fontecha FerrariJose Paiz M.

Central Bank of West African States

Philippe-Henri Dacoury-TableyIsmaila DemMareme Diagne

Common Fund for Commodities

My Huynh-Cong

Common Market for Eastern andSouthern Africa

Bingu Wa MutharikaPrega RamsamyAzhari Gasim AhmedGabriel C.N. KivutiJotham S. Kotamo

Commonwealth Secretariat

Sir Humphrey Maud, K.C.M.G.Rumman Faruqi

Chandni Shah

Cooperation Council for the Arab States of the Gulf

Abdulla S. Al-KhulaifiAbdulla A. Al-Mulla

Council of Europe SocialDevelopment Fund

Giorgio RattiRaphael AlomarMartin MurtfeldRainer B. Steckhan

East African Development Bank

Fabian R. TibeitaJoram Kariisa-KasaProtase T. Tehingisa

Eastern Caribbean Central Bank

E. Eustace LiburdS.C. McHale Andrew

Economic Community of West African States

Samuel K. ApeaBoubacar BaFrank OfeiBarthelemy DraboRebily David Asante

European Bank for Reconstructionand Development

Jacques de LarosiereRonald M. FreemanNicholas H. SternNoreen DoyleMarcus J. FedderUllrich H. KiermayrFrancois LecavalierGeraldine JacobJoy HurmanTeresa de Barcenas

European Free Trade Association

Kjartan Johannsson

European Investment Bank

Sir Brian Unwin, K.C.B.Wolfgang RothAriane ObolenskyJean-Louis BiancarelliRex SpellerWalter CernoiaPatrick ThomasRene KarsentiUlrich DammChristopher Bearne

European Investment Fund

David McGlueFrancois LagrangeHelmut KuhrtDoerthe Ohm

European Monetary Institute

Alexandre LamfalussyRobert RaymondGert Jan Hogeweg

European Union

Yves-Thibault de SilguyLaurence de RichemontPaul N. GoldschmidtGiovanni RavasioGuenter GroscheHerve CarreJoly DixonWerner SchueleAnne Vorce

Food and Agriculture Organizationof the United Nations

Charles Riemenschneider

Inter-American Development Bank

Enrique V. Iglesias

Carlos FerdinandCarlos Santistevan

Inter-American InvestmentCorporation

John C. RahmingCarlos F. Aguilar

Inter-Arab Investment GuaranteeCorporation

Mamoun Ibrahim HassanAbdel Maksoud Eissa

International Fund for AgriculturalDevelopment

Fawzi Hamad Al-SultanJim MoodySamir AsmarVera P. Weill-HalleJessica Simmons

International Labour Organisation

Katherine Ann HagenAnthony G. FreemanTeresa Prada de MesaStanley G. TaylorCeleste M. ten Broeke

Islamic Development Bank

Ahmad Mohamed AliTarik KivancBader-Eddine NouiouaOmar Abdullah SajeeniAbdurrahman Nur HersiSuleiman Ahmad SalemEl Mansour FetenTariq ReedyNik Zainal AbidinLamine Doghri

Kuwait Fund for Arab EconomicDevelopment

Marwan Abdulla Al-GhanemWaleed Al-Bahar

ATTENDANCE—OBSERVERS 317

Latin American Economic System

Gerardo Orlando Noto

Latin American Reserve Fund

Manuel Martinez R.

League of Arab States

Abdrahman SehebaniKhaled Khaled Abdalla

Nordic Development Fund

Jens Lund SoerensenEngilbert GudmundssonStella Eckert

Nordic Investment Bank

Jon SigurdssonErkki KarmilaEivind DingstadJuha KotajokiOddvar Sten RonsenBert H. LindstromHeidi Syrjanen

OPEC Fund for InternationalDevelopment

Y. Seyyid AbdulaiSaleh Al-OmairSaid AissiJumana A.W. DejanyNelly Ruiz

Organization for EconomicCooperation and Development

Donald J. JohnstonJoanna SheltonSalvatore ZecchiniKumiharu ShigeharaRichard Carey

Development Assistance Committee

James H. Michel

Organization of African Unity

Vijay S. Makhan

Frederick Yao AlipuiNgardoumlao Mbondjim SahndolOmotayo Olaniyan

Organization of American States

Alejandro Foxley

Palestine Liberation Organization(P.L.O.)

Mohd. Zuhdi NashashibiFouad H. Sh. BeseisoAli ShaatSulaiman Al-ArefIbrahim J. AffanehKhalid S.K. Mahmoud

Saudi Fund for Development

Hassan Al-AttasAbdulaziz A. Al-Sehail

Southern African DevelopmentCommunity

Lengolo B. MonyakeFudzai Pamacheche

United Nations

Jean-Claude Milleron

UN Children’s Fund

Ado Vaher

UN Conference on Trade andDevelopment

Rubens RicuperoY. Akyuz

UN Development Program

Ellen Johnson-SirleafTerry McKinleyFinda E.M. Koroma

UN Economic and Social Commissionfor Western Asia

Zeki Fattah


UN Economic Commission forAfrica

Kingsley Y. AmoakoJ. Sande Kanyarubona

UN Economic Commission for Europe

Joe Smolik

UN Economic Commission for LatinAmerica and the Caribbean

Isaac CohenInes BustilloRex Garcia

United Nations Educational,Scientific, and CulturalOrganization

Paul Falzon

United Nations IndustrialDevelopment Organization

Enrique AguilarMichael Davidsen

Universal Postal Union

Thomas E. Leavey

West African Development Bank

Bernabe Koyo Koyo

West African Economic andMonetary Union

Kalou Doua BiFrederic Assomption KorsagaYounoussi ToureOumar Keita

World Health Organization

Yuji Kawaguchi

World Trade Organization

Renato RuggieroJesus SeadeGary P. SampsonEvan RogersonKeith M. RockwellJorge Vigano

ATTENDANCE—OBSERVERS 319

Executive Directors

Abdulrahman A. Al-TuwaijriMarc-Antoine Autheman

Luis E. Berrizbeitia

Ian D. Clark

Bernd EsdarHuw EvansEnzo R. GrilliJ.E. IsmaelDaniel KaeserAlexandre Kafka

Willy Kiekens

Yves-Marie T. Koissy

Karin LissakersHachiro MesakiAbbas Mirakhor

Carlos Saito

A. Shakour Shaalan

M.R. SivaramanEva SrejberDmitri TulinEwen L. WatermanJ. de Beaufort Wijnholds

Zhang Zhixiang

Alternate ExecutiveDirectors

Sulaiman M. Al-TurkiAmbroise Fayolle

Vicente J. Fernandez

Charles X. O’Loghlin

Dinah Z. Guti

Wolf-Dieter DoneckerJon ShieldsNikolaos CoumbisLatifah Merican CheongDanuta Gotz-KozierkiewiczAlberto Calderon

Johann Prader

Alexandre Barro Chambrier

Barry S. NewmanHideaki OnoMohammed Dairi

A. Guillermo Zoccali

Yacoob Yousef Mohammed

H.B. DisanayakaBenny AndersenAleksei V. MozhinJung-Ho KangYuriy G. Yakusha

Han Mingzhi

Advisors to ExecutiveDirectors

Melhem F. MelhemPierre CailleteauPierre Michel Fremann

Mario B. AlemanJavier Guzman-CalafellMostafa Askari-RankouhiRoderick RainfordPatrick A. AkatuLodewyk J.F. ErasmusJ. Mills JonesYasmin Patel

J.C. Martinez OlivaKhamsouk SundaraRoberto F. CippaJoan John Helio MoriAkos CseresJiri JonasAbdel Rehman IsmaelBernard KonanSimon N’guiambaJean-Christian ObameMark Sobel

Meekal A. AhmedMohammad-Hadi

MahdavianJose JustinianoJorge LeivaSamia S. FaridToufic K. GaspardGarbis M. IradianRamalinga KannanKerstin M. HeinonenAndrei VernikovMurray PetrieAzriel LevyGeorge MucibabiciHe Jianxiong

320

EXECUTIVE DIRECTORS, ALTERNATES, AND ADVISORS

LIST OF ABBREVIATIONS

ADF African Development FundAFTA ASEAN Free Trade AreaAPEC Asia Pacific Economic CooperationASAL Agriculture Sector Adjustment LoanASEAN Association of Southeast Asian NationsBIS Bank for International SettlementsCARICOM Caribbean Community and Common MarketCEFTA Central European Free Trade AreaCGCED Caribbean Group for Cooperation and Economic

DevelopmentDAC Development Assistance CommitteeEBRD European Bank for Reconstruction and DevelopmentEFF Extended Fund FacilityEFSAL Enterprise and Financial Sector Adjustment LoanEMU Economic and Monetary UnionESAF Enhanced Structural Adjustment FacilityEU European UnionFATF Financial Action Task ForceGAB General Arrangements to BorrowGATT General Agreement on Tariffs and TradeGDDS General Data Dissemination StandardGDP Gross domestic productGNP Gross national productGRA General Resources AccountHIPC Heavily indebted poor countriesIAIS International Association of Insurance SupervisorsIBRD International Bank for Reconstruction and

DevelopmentIDA International Development AssociationIDB Inter-American Development BankIFC International Finance CorporationIFI International financial institutionIMF International Monetary FundIOSCO International Organization of Securities

CommissionsMDB Multilateral development bankMERCOSUR Southern Cone Common MarketMIGA Multilateral Investment Guarantee AgencyNAB New Arrangements to BorrowNGO Nongovernmental organization

321

ODA Official development assistanceOECD Organization for Economic Cooperation and

DevelopmentPFTAC Pacific Financial Technical Assistance CentrePSAL Public Sector Adjustment LoanSCA2 Second Special Contingent AccountSDDS Special Data Dissemination StandardSDR Special drawing rightSTF Systemic Transformation FacilityTAC Transition assistance creditUN United NationsUNCTAD United Nations Conference on Trade and

DevelopmentVAT Value-added taxWEO World Economic OutlookWTO World Trade Organization


IMF Summary Proceedings 1996 -- part 5 of 5

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