Press Release No. 03/166

Press Release: IMF Managing Director Proposes Appointment of Japan's Takatoshi Kato as Deputy Managing Director

October 9, 2003

Horst Köhler, Managing Director of the International Monetary Fund (IMF), has proposed the appointment of Takatoshi Kato, a Japanese national, to the position of Deputy Managing Director. Mr. Kato, formerly Japan's Vice Minister of Finance for International Affairs and currently Advisor to the President of Bank of Tokyo-Mitsubishi and a Visiting Professor at Waseda University, will succeed Shigemitsu Sugisaki, who had announced his decision to leave the IMF in early 2004 (see Press Release No. 03/153).

In announcing the proposed appointment, Mr. Köhler said: "I have decided to propose Takatoshi Kato as the next Deputy Managing Director to succeed Shigemitsu Sugisaki. Mr. Kato is no stranger to the workings of the Fund having spent a large part of his career in high level positions within the Japanese government, including as the G-7 Deputy for Japan. He is an individual with strong professional competency—in economic, public policy, managerial, diplomatic, communication and leadership skills. I expect he will provide solid and balanced leadership at the Fund.

"As a senior policy maker in the Japanese government, he was involved in the international community's crisis management in Latin America as well as in Asia. More recently, Mr. Kato has concentrated on distilling the lessons from these events and has been involved in the intellectual development of the worldwide efforts to reduce poverty in low income countries. In addition, Mr. Kato has remained active in academia on international financial issues," Mr. Köhler noted. "I and my management colleagues look forward to Mr. Kato joining the IMF's management team. With his extensive experience in government, international organizations and academia, Mr. Kato will build upon the distinguished contribution of his predecessor."

The appointment would be effective February 1, 2004.

Mr. Kato, who holds degrees in law from Tokyo University and public policy from Princeton University, served as Vice Minister of Finance for International Affairs between 1995 and 1997. During more than 30 years of public service, he has been Japan's representative to the Asian Development Bank and has served with the Secretariat of the Organization for Economic Cooperation and Development. After leaving Japan's finance ministry, Mr. Kato, 62, also served in advisory roles at the Asian Development Bank and the World Health Organization.