Press Release No. 09/356

Press Release: IMF Managing Director Proposes Appointment of Naoyuki Shinohara as Deputy Managing Director

October 6, 2009

Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), has proposed the appointment of Naoyuki Shinohara, to the position of Deputy Managing Director. Mr. Shinohara, a former Vice Minister of Finance for International Affairs of Japan, will succeed Takatoshi Kato.

In announcing his selection of Mr. Shinohara, Mr. Strauss-Kahn said: “I have decided to propose Naoyuki Shinohara as the next Deputy Managing Director to succeed Takatoshi Kato. He possesses vast experience in the arena of international finance. Most recently, from July 2007 until this past July, he served as Vice Minister of Finance for International Affairs. In this post, he was in charge of developing and implementing Japan’s policy responses to the global crisis, especially in the international finance sphere. He participated in IMFC, G7, G20, ASEAN and other meetings as the Finance Minister’s Deputy. He also promoted multilateral and bilateral cooperation efforts, including in Asia such as the Chiang Mai Initiative.

“Mr. Shinohara has a deep knowledge of the Fund and our work in all aspects and he has occupied various senior positions in the International Bureau of the Ministry of Finance. He also has personal experience working in an international institution, having served as Japan’s Executive Director at the Asian Development Bank during 1998-2001.”

Mr. Shinohara, 56, a Japanese national, holds degrees in economics from Tokyo University and public affairs from Princeton University.

The Managing Director selects and appoints the Deputy Managing Directors of the Fund. These appointments require approval by the Executive Board and, in making the selection of Mr. Shinohara, the Managing Director, as is the practice for such appointments, consulted with the Board regarding the type of qualifications that, in the view of the Executive Board, a Deputy Managing Director should possess.