Press Release No. 10/400

Press Release: IMF Managing Director Dominique Strauss-Kahn Names Antonio Borges as Director of the European Department of the Fund

October 26, 2010

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), announced today his intention to name Mr. Antonio Borges to the post of Director of the European Department of the Fund.

Mr. Borges, a Portuguese national, is currently Chairman of the Hedge Fund Standards Board in London. He will succeed Mr. Marek Belka, who left the Fund earlier this year to become Governor of the Central Bank of Poland. Mr. Borges is expected to take up his new position in late November.

Mr. Strauss-Kahn said, "Mr. Borges brings a remarkable combination of public sector, private sector, and academic experience, and has proven strategic and organizational leadership skills. He is ideally suited to take charge of the Fund's work in Europe at this critical time."

Mr. Borges, who holds a PhD in Economics from Stanford University, was Vice Chairman and Managing Director of Goldman Sachs International in London from 2000-08. From 1993-2000, he was a professor of Economics and Dean of the Business School at INSEAD, Fontainebleau; and between 1990-93, Deputy Governor of the Banco de Portugal. He has been a visiting professor of economics at the New University of Lisbon, Stanford University, and Portuguese Catholic University.