Michel Camdessus assumed office as Managing Director and Chairman of the Executive Board of the International Monetary Fund (IMF) on January 16, 1987. On May 22, 1996, the Executive Board of the IMF unanimously selected Mr. Camdessus to serve a third five-year term as Managing Director, beginning January 16, 1997.

Mr. Camdessus was educated at the University of Paris and earned postgraduate degrees in economics at the Institute of Political Studies of Paris and the National School of Administration.