IMF | Retirees & Alumni Association

(Please see the Events page for further information on individual events.)

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Passing of Former First Deputy Managing Director Stanley Fischer - Memorial Book (physical and online)

Dear IMF retirees,

It is with a heavy heart that I have to inform you of the passing of our dear friend and former colleague Stan Fischer, who served as the First Deputy Managing Director of the IMF between 1994 and 2001. Stan lived a life of exemplary public service, matched only by his innate goodness as a colleague, friend, and human being. He will be deeply missed.

During his tenure as FDMD, he helped lead the Fund’s response to significant challenges, including the Mexican crisis of 1994 and the 1997 Asian financial crisis. He tirelessly pursued the Fund’s mission to promote principles of good economic citizenship and provide a forum for countries to discuss mutual interests.

Stan was also a firm believer of what I know to be true—that the Fund’s most valuable resource is its staff. He once said that “Staff of this institution are its greatest strength, rising to every challenge, producing high class work, no matter how tight the schedule, or how difficult the intellectual difficulties. There is a dedication to getting it right, that enables all of us together to operate consistently at levels that surpass any reasonable expectation.” Stan embodied these qualities himself. His intellectual leadership, personal integrity, and dedication to public service remain admired by all of us at the Fund.

Stan’s legacy extends beyond the IMF. He will be remembered for his enormous influence on the economics profession, first as a leading academic and teacher, then as an accomplished policymaker. His research at the University of Chicago and MIT had a profound effect on the field of macroeconomics and made him a leading figure in the New Keynesian movement. He mentored and influenced many policymakers, and thought leaders, shaping the field through his teachings. His distinguished policymaking career included roles such as Chief Economist of the World Bank, Governor of the Bank of Israel, and Vice-Chair of the Federal Reserve Board of Governors. As a central banker, he championed inflation targeting, transparency, and central bank independence.

To honor his memory, a condolence book will be made available in the IMF HQ1 atrium on Thursday, June 5, from 10.00 am to 6.00 pm. You are invited to stop by and add words of remembrance and sympathy to the book, which will be shared with Mr. Fischer’s three children Michael, David, and Jonathan and their families. If you are not able to come in person, you can contribute through the online Memorial Book on the following link: https://www.kudoboard.com/boards/Ahma2Bnk or contact COMICG@imf.org.

My heartfelt condolences are with his family and to his many friends among us.

Kristalina Georgieva

Link to tutorial on using Kudo Board (online Memorial Book)

Link to Tribute to Stanley Fischer by Lawrence H. Summers

Link to Tribute to Stanley Fischer by Michel Camdessus

Link to Tribute to Stanley Fischer by James Bougton

"Out of Zambia" Video