Deputy Managing Director Naoyuki Shinohara to Leave IMF
Mr. Shinohara joined the Fund in March 2010, at the height of the global financial crisis. His particular contributions included helping the Fund to replenish its financial resources by more than $500 billion through the expansion of the New Arrangements to Borrow (NAB) and the adoption of bilateral borrowing agreements—measures that helped reassure financial markets that the Fund had sufficient resources to assist its member countries through the crisis.
Mr. Shinohara also oversaw wide-ranging reforms of the Fund’s lending facilities that broadened the coverage of emergency assistance, enhanced liquidity provision, and ensured that the IMF’s Poverty Reduction and Growth Trust would be financially self-sustaining. In addition, he worked to advance IMF quota and governance reform.
“With his trademark efficiency and sharp insights, Naoyuki has helped the Fund to respond to the crisis and, overall, strengthen our relationship with our global membership. He will be greatly missed by all of us,” Ms. Lagarde said, “and I wish to thank him for his unwavering commitment to the Fund, its staff, and its member countries.”
On top of these responsibilities, Mr. Shinohara has overseen the IMF’s information technology and economic data management, administrative services, buildings, space utilization, and staff safety.
The IMF will begin the search for Mr. Shinohara’s successor immediately.