Horst K�hler assumed office as Managing Director of the International Monetary Fund on May 1, 2000. This followed his unanimous selection by the Executive Board of the IMF, on March 23, 2000, to serve as Managing Director and Chairman of the Executive Board. He resigned on March 4, 2004, following his nomination for the position of President of the Federal Republic of Germany.

Mr. K�hler earned a doctorate in economics and political sciences from the University of T�bingen, where he was a scientific research assistant at the Institute for Applied Economic Research from 1969 to 1976. After completing his education, he held various positions in Germany’s Ministries of Economics and Finance between 1976 and 1989.

Prior to taking up his position at the IMF, Mr. K�hler was the President of the European Bank for Reconstruction and Development, a post to which he was appointed in September 1998. He was President of the German Savings Bank Association from 1993 to 1998. From 1990 to 1993, he served as Germany’s Deputy Minister of Finance, being responsible for international financial and monetary relations. During this time, he led negotiations on behalf of the German government on the agreement that became the Maastricht treaty on European Economic and Monetary Union, was closely involved in the process of German unification, and held the position of Deputy Governor for Germany at the World Bank. He was personal representative (“sherpa”) of the Federal Chancellor in the preparation of the Group of Seven Economic Summits in Houston (1990), London (1991), Munich (1992), and Tokyo (1993).

Mr. K�hler was the eighth Managing Director of the IMF. He directly succeeded Michel Camdessus, who retired from the IMF on February 14, 2000. Previous Managing Directors were Camille Gutt (Belgium, 1946-51), Ivar Rooth (Sweden, 1951-56), Per Jacobsson (Sweden, 1956-63), Pierre-Paul Schweitzer (France, 1963-73), H. Johannes Witteveen (Netherlands, 1973-78), and Jacques de Larosi�re (France, 1978-87).

Mr. K�hler was born in Skierbiesz�w, Poland on February 22, 1943. A German national.