72 | IMF ANNUAL REPORT 2010 Executive Directors AND Alternates aS oF aprIl 30, 20101 appoInteD ELECteD (ContInueD) Meg Lundsager United States HE Jianxiong China Douglas A. Rediker (China) Daisuke Kotegawa Japan LUO Yang Hiromi Yamaoka (China) Klaus D. Stein Germany Stephan von Stenglin Thomas Hockin Antigua and Barbuda (Canada) Bahamas, The Ambroise Fayolle France Stephen O’Sullivan Barbados Aymeric Ducrocq (Ireland) Belize Alexander Gibbs United Kingdom Canada James Talbot Dominica Grenada Ireland Jamaica eleCteD St. Kitts and Nevis St. Lucia Willy Kiekens Austria St. Vincent and the Grenadines (Belgium) Belarus Johann Prader Belgium (Austria) Czech Republic Duangmanee Vongpradhip Brunei Darussalam Hungary (Thailand) Cambodia Kazakhstan Adrian Chua Fiji Luxembourg (Singapore) Indonesia Slovak Republic Lao People’s Democratic Republic Slovenia Malaysia Turkey Myanmar Nepal Age F. P. Bakker Armenia Philippines (Netherlands) Bosnia and Herzegovina Singapore Yuriy G. Yakusha Bulgaria Thailand (Ukraine) Croatia Tonga Cyprus Vietnam Georgia Israel Hi-Su Lee Australia Macedonia, former Yugoslav Republic of (Korea) Kiribati Moldova Christopher Y. Legg Korea Montenegro (Australia) Marshall Islands Netherlands Micronesia, Federated States of Romania Mongolia Ukraine New Zealand Palau Ramón Guzmán Zapater Costa Rica Papua New Guinea (Spain) El Salvador Samoa Carlos Pérez-Verdía Guatemala Seychelles (Mexico) Honduras Solomon Islands Mexico Vanuatu Nicaragua Spain Per Callesen Denmark Venezuela, República Bolivariana de (Sweden) Estonia Jarle Bergo Finland (Norway) Iceland Arrigo Sadun Albania Latvia (Italy) Greece Lithuania Panagiotis Roumeliotis Italy Norway (Greece) Malta Sweden Portugal San Marino Timor-Leste ©International Monetary Fund. Not for Redistribution IMF ANNUAL REPORT 2010 | 73 ELECteD (ContInueD) ELECteD (ContInueD) A. Shakour Shaalan Bahrain Jafar Mojarrad Afghanistan, Islamic Republic of (Egypt) Egypt (Islamic Republic of Iran) Algeria Sami Geadah Iraq Mohammed Daïri Ghana (Lebanon) Jordan (Morocco) Iran, Islamic Republic of Kuwait Morocco Lebanon Pakistan Libyan Arab Jamahiriya Tunisia Maldives Oman Qatar Paulo Nogueira Batista, Jr. Brazil Syrian Arab Republic (Brazil) Colombia United Arab Emirates VACANT Dominican Republic Yemen, Republic of Ecuador Guyana Haiti Abdallah S. Alazzaz Saudi Arabia Panama (Saudi Arabia) Suriname Ahmed Al Nassar Trinidad and Tobago (Saudi Arabia) Arvind Virmani Bangladesh Samuel Itam Angola (India) Bhutan (Sierra Leone) Botswana P. Nandalal Weerasinghe India Moeketsi Majoro Burundi (Sri Lanka) Sri Lanka (Lesotho) Eritrea Ethiopia Gambia, The Pablo Andrés Pereira Argentina Kenya (Argentina) Bolivia Lesotho David Vogel Chile Liberia (Uruguay) Paraguay Malawi Peru Mozambique Uruguay Namibia Nigeria Laurean W. Rutayisire Benin Sierra Leone (Rwanda) Burkina Faso South Africa Kossi Assimaidou Cameroon Sudan (Togo) Cape Verde Swaziland Central African Republic Tanzania Chad Uganda Comoros Zambia Congo, Democratic Republic of Congo, Republic of René Weber Azerbaijan Côte d’Ivoire (Switzerland) Kyrgyz Republic Djibouti Katarzyna Zajdel-Kurowska Poland Equatorial Guinea (Poland) Serbia Gabon Switzerland Guinea Tajikistan Guinea-Bissau Turkmenistan Madagascar Uzbekistan Mali Mauritius Niger Aleksei V. Mozhin Russian Federation Rwanda (Russian Federation) São Tomé and Príncipe Andrei Lushin Senegal (Russian Federation) Togo 1 The voting power of each chair can be found in Appendix IV on the Annual Report web page (www.imf.org/external/pubs/ft/ar/2010/eng/index.html); changes in the Executive Board during FY2010 are listed in Appendix V on the Annual Report web page. ©International Monetary Fund. Not for Redistribution 74 | IMF ANNUAL REPORT 2010 SENIOR OFFICERS on aprIl 30, 2010 Olivier Blanchard, Economic Counsellor InForMatIon anD lIaison José Viñals, Financial Counsellor Caroline Atkinson Director, External Relations Department Shogo Ishii area DepartMentS Director, Regional Office for Asia and the Pacific Antoinette Monsio Sayeh Director, African Department Emmanuel van der Mensbrugghe Director, Offices in Europe Anoop Singh Director, Asia and Pacific Department Elliott Harris Special Representative to the United Nations Marek Belka Director, European Department Masood Ahmed Support ServICeS Director, Middle East and Central Asia Department Shirley Siegel Director, Human Resources Department Nicolas Eyzaguirre Director, Western Hemisphere Department Siddharth Tiwari Secretary, Secretary’s Department Frank Harnischfeger FunCtIonal anD SpeCIal Director, Technology and General Services Department ServICeS DepartMentS Jonathan Palmer Andrew Tweedie Chief Information Officer, Technology and Director, Finance Department General Services Department Carlo Cottarelli Director, Fiscal Affairs Department Leslie Lipschitz oFFICeS Director, IMF Institute Daniel Citrin Director, Office of Budget and Planning Sean Hagan General Counsel and Director, Legal Department G. Russell Kincaid Director, Office of Internal Audit and Inspection José Viñals Director, Monetary and Capital Markets Department J. Roberto Rosales Director, Office of Technical Assistance Management Olivier Blanchard Director, Research Department Moises J. Schwartz Director, Independent Evaluation Office Adelheid Burgi-Schmelz Director, Statistics Department Reza Moghadam Director, Strategy, Policy, and Review Department ©International Monetary Fund. Not for Redistribution IMF ANNUAL REPORT 2010 | 75 IMF Organization Chart on aprIl 30, 2010 International Joint IMF-World Bank Monetary and Board of Governors Development Financial Committee Committee1 Independent Executive Board Evaluation Office Managing Director Deputy Managing Directors Investment Office of Office of Office of Office-Staff Internal Technical Budget and Retirement Audit and Assistance Planning Plan Inspection Management Area Departments Functional and Special Services Departments Information and Liaison Support Services External Relations Human Resources African Department Finance Department Legal Department Department Department Asia and Pacific Fiscal Affairs Monetary and Capital Fund Office Secretary's Department Department Markets Department United Nations2 Department Regional Office for IMF Institute Research Department Technology and Asia and the Pacific General Services Department Joint Vienna Statistics Department European Department Institute Strategy, Offices in Europe Singapore Policy and Training Institute Review Department Middle East and Central Asia Department Western Hemisphere Department 1 Known formally as the Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries. 2 Attached to the Office of Managing Director. ©International Monetary Fund. Not for Redistribution 76 | IMF ANNUAL REPORT 2010 notes CHapter 1 Performance under the Flexible Credit Line” (www.imf.org/external/np/sec/ 1 The IMF’s financial year (FY) runs from May 1 through April 30. The 2010 pr/2009/pr09383.htm). Annual Report covers FY2010, which began May 1, 2009, and ended April 30, 2010. 9 The report, “Review of Recent Crisis Programs,” is available on the IMF’s website (www.imf.org/external/pp/longres.aspx?id=4366). 2 The first of the IMF’s bilateral borrowing agreements, with Japan, was signed and became effective in FY2009. 10 Armenia, Belarus, Bosnia and Herzegovina, Costa Rica, El Salvador, Georgia, Guatemala, Hungary, Iceland, Latvia, Mongolia, Pakistan, Romania, Serbia, 3 The NAB is one of two standing borrowing agreements with IMF member and Ukraine. countries. 11 See PR 10-17, “IMF Executive Board Approves US$114 Million in Aid to Haiti” (www.imf.org/external/np/sec/pr/2010/pr1017.htm). 12 The total includes SDR 0.1 billion in overdue Trust Fund loans to Somalia and Sudan. CHapter 2 4 This chapter is based on material in the April 2010 World Economic Outlook 13 See “Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt and Global Financial Stability Report. Summings Up of the Executive Board Relief Initiative (MDRI)—Status of Implementation 2009” (www.imf.org/ discussions on the October 2009 and April 2010 World Economic Outlook and external/pp/longres.aspx?id=4365). Global Financial Stability Report are incorporated as part of the two publications, which are available on the IMF’s website (www.imf.org/external/ 14 See PR 09-264, “IMF Executive Board Backs US$250 Billion SDR Allocation to pubs/ft/weo/2009/02/pdf/annex.pdf and www.imf.org/external/pubs/ft/ Boost Global Liquidity” (www.imf.org/external/np/sec/pr/2009/pr09264.htm). weo/2010/01/pdf/annex.pdf, respectively, for the October and April WEO reports, and www.imf.org/external/pubs/ft/gfsr/2009/02 and www.imf.org/ 15 See PR 09-283, “IMF Governors Formally Approve US$250 Billion General external/pubs/ft/gfsr/2010/01/pdf/annex.pdf, respectively, for the October and SDR Allocation” (www.imf.org/external/np/sec/pr/2009/pr09283.htm). April GFSRs) or via the Annual Report web page (www.imf.org/external/pubs/ 16 For additional information on the IMF’s surveillance activities, see “Factsheet: ft/ar/2010/eng/index.htm). IMF Surveillance” (www.imf.org/external/np/exr/facts/surv.htm). 17 Until recently, Public Information Notices covering Article IV consulta- tions were produced and published only when the member country expressly consented to their publication. Under revisions to the Fund’s CHapter 3 transparency policy approved by the Board in December 2009 that took 5 The arrangement with Moldova is a blended arrangement under the Extended