Mr. John Lipsky, First Deputy Managing Director of the International Monetary Fund (IMF), announced on May 12 that he will not seek a new term when his current term expires on August 31, 2011. He has agreed to remaining as a Special Advisor through the Group of 20 Summit to be held in November.

Managing Director Strauss-Kahn extended his deepest thanks for the role Mr. Lipsky has played in the context of the day-to-day operation of the IMF and in the development and implementation of country and institutional strategies and policies.