Michel Camdessus
Michel Camdessus | |
|---|---|
| Born | May 1, 1933 Bayonne, France |
| Occupation | Economist |
| Years active | 1984–2000 (notable public service) |
| Known for | Managing Director of the International Monetary Fund (1987–2000), Governor of the Banque de France (1984–1987) |
Michel Camdessus (born 1 May 1933) is a prominent French economist who held the position of the seventh managing director at the International Monetary Fund (IMF) from 1987 until 2000, marking the longest duration in that capacity. Prior to his tenure at the IMF, he was appointed Governor of the Banque de France between 1984 and 1987, having briefly occupied the role of Deputy Governor earlier in 1984.
Camdessus's period leading the IMF was met with criticism, especially regarding his management of the 1997 East Asian financial crisis. He implemented strategies resembling those used during the Mexico crisis, yet these policies failed to consider the distinct economic context of East Asia. This misapplication contributed to significant financial instability and social unrest in nations such as Indonesia.
Originating from Bayonne, France, Camdessus pursued his education at the University of Paris, later obtaining advanced degrees in economics from Sciences Po and École nationale d'administration.
At present, he leads the social organization Semaines sociales de France and is a member of Tony Blair’s Commission for Africa. Additionally, he participates in the Africa Progress Panel (APP), which focuses on promoting sustainable development and influencing policy across Africa.
Camdessus also serves on the board of the Fondation Chirac, established by former French president Jacques Chirac in 2008 to foster global peace initiatives. Within this foundation, he contributes as a jury member for its Conflict Prevention Prize and is involved in the scientific committee overseeing its Water and Sanitation program.
External links
- Camdessus' articles and speeches
- 1933 births
- Living people
- Sciences Po alumni
- École nationale d'administration alumni
- Governors of the Banque de France
- Managing directors of the International Monetary Fund
- Commission for Africa members
- French economists
- Grand Officers of the Legion of Honour
- Knights of the Ordre national du Mérite
- French officials of the United Nations