Press Release No. 12/277

Press Release: IMF Western Hemisphere Department Director Nicolás Eyzaguirre Notifies Management of Intention to Leave the Fund

July 26, 2012

Mr. Nicolás Eyzaguirre, Director of the International Monetary Fund's Western Hemisphere Department, has notified IMF Managing Director Christine Lagarde of his intention to leave the Fund to take up the position of Chairman of Chile’s Canal 13 television network. Mr. Eyzaguirre, who took up his current IMF post in January 2009 (see Press Release No. 08/194), will resign effectively from the end of August but will relinquish his responsibilities with immediate effect.

“Nicolás Eyzaguirre’s tenure coincided with a tumultuous period for the world economy in which the countries of North America were at the center of the crisis while Latin America was an island of stability. Nicolás’ vision and high-level economic policy making experience were instrumental in the Fund’s successful engagement in the region over the last three and half years. I have appreciated his wise counsel and I know we all wish Nicolás the best in his future endeavors,” Ms. Lagarde stated.