• Wed
  • Oct 22, 2014
  • Updated: 9:45am

Michel Camdessus

Asians press case for Camdessus job

Asian critics have challenged the International Monetary Fund to replace Michel Camdessus with a leader from the developing world.

Thursday, 11 November, 1999, 12:00am

BIS chief seeks urgency in reforms

The Bank for International Settlements (BIS) has warned that the sense of urgency to reform international financial markets is in danger of being lost and that complacency bred by the present stability in markets needs to be quickly avoided.

8 Jun 1999 - 12:00am

Camdessus urges caution

Recent rallies on Asia's financial markets are premature and smack of 'irrational euphoria', according to the International Monetary Fund's managing director Michel Camdessus.

18 May 1999 - 12:00am

Camdessus confirms credit line to fight speculators

The International Monetary Fund has confirmed it is setting up a bold funding facility which will tackle financial crises contagion head on.

After long negotiations, the IMF said that under its new contingent credit line, it would make available funds aimed at beating back speculators and deflecting any knock-on effects.

27 Apr 1999 - 12:00am

Russian roulette

The managing director of the International Monetary Fund arrives in Russia this morning on a seemingly mission impossible. Michel Camdessus must try to reconcile the strictures of the IMF's principles with the needs of a country on the edge of an abyss.

1 Dec 1998 - 12:00am

IMF, World Bank deny failing to address crisis

The International Monetary Fund and World Bank yesterday dismissed claims their annual general meeting had failed to provide an agenda to tackle the worsening economic crisis.

Bank president James Wolfensohn and IMF managing director Michel Camdessus said the six days of talks had impressed on the world's financial chiefs that the problem was global, not regional.

9 Oct 1998 - 12:00am

Clinton urges global action to halt crisis

Bill Clinton said yesterday the worst economic crisis in 50 years could be contained by global action, but warned it might still spread.

7 Oct 1998 - 12:00am

Regional economic surveillance mechanism draws support

Monetary officials from the Asia-Europe Meeting (Asem) countries yesterday gave their universal support to an Asia-wide surveillance mechanism to pre-warn nations of impending economic collapses.

7 Feb 1998 - 12:00am

$116b more for Jakarta

ASIAN countries and the US have pledged a further US$15 billion (HK$116 billion) to an International Monetary Fund (IMF) aid package for Indonesia, bringing to US$38 billion the amount promised so far to bail out the country.

US Treasury Secretary Robert Rubin said yesterday that Washington was prepared to put up as much as US$3 billion as a back-up.

2 Nov 1997 - 12:00am

Discipline better than demons

International Monetary Fund managing director Michel Camdessus yesterday called on countries to accept the disciplines of markets rather than demonise them when uncertain economic conditions cause volatility.

Mr Camdessus said countries could not compete for the 'blessings of the global capital markets and refuse their disciplines'.

24 Sep 1997 - 12:00am

Calm in the war zone is Camdessus lifestyle

Some people see International Monetary Fund supremo Michel Camdessus as being more like a bomb disposal expert than a financial leader - given the sometimes explosive nature of the developing world's debt problems.

22 Sep 1997 - 12:00am

Bangkok advised to move 'quickly'

The World Bank president yesterday called on the Thai Government to move 'more quickly and more definitively' to reform its economic system.

James Wolfensohn, in Hong Kong for the World Bank and International Monetary Fund annual general meeting, said he shared the IMF managing director Michel Camdessus' sense of urgency on the issue.

20 Sep 1997 - 12:00am

IMF satisfied with Thailand progress

International Monetary Fund managing director Michel Camdessus said the fund was 'satisfied' with the progress Thailand was making on economic reforms but reserved the right to express impatience with the pace of change.

19 Sep 1997 - 12:00am


The International Monetary Fund is considering ways of improving the flow of information about members' exchange rate policies.

The move follows the recent crisis in the Thai economy and concerns the available information was not comprehensive enough for the markets to make an informed opinion.

19 Sep 1997 - 12:00am

Joint effort in offensive against graft

The World Bank yesterday unveiled the latest stage in its joint campaign with the International Monetary Fund to fight corruption, publishing details of how it planned to prevent corrupt practices from developing and to tackle existing cases.

19 Sep 1997 - 12:00am