Four new members of the IMF’s Executive Board were elected by member countries during biennial elections held in Prague at this year’s Annual Meetings. The 24-member Executive Board is the IMF’s permanent decision-making body and meets in continuous session at IMF headquarters in Washington. The Executive Directors and the member countries that elected them are as follows:
• Michael Callaghan of Australia: Australia, Kiribati, Korea, Marshall Islands, Federated States of Micronesia, Mongolia, New Zealand, Palau, Papua New Guinea, Philippines, Samoa, Seychelles, Solomon Islands, and Vanuatu;
• Hernén Oyarzébal of Venezuela: Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Spain, and Venezuela;
• Cyrus D.R. Rustomjee of South Africa: Angola, Botswana, Burundi, Eritrea, Ethiopia, The Gambia, Kenya, Lesotho, Liberia, Malawi, Mozambique, Namibia, Nigeria, Sierra Leone, South Africa, Sudan, Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe;
• A. Guillermo Zoccali of Argentina: Argentina, Bolivia, Chile, Paraguay, Peru, and Uruguay.
The two-year terms of these Executive Directors, and those of the 15 Directors reelected by their constituencies, begin November 1, 2000; 5 other Executive Directors are appointed by individual member countries—the United States, Germany, Japan, France, and the United Kingdom.