The CNB chooses the Czech Republic’s representative in the International Monetary Fund

The Czech National Bank hereby announces that Mr Stanislav Polák, MIA has won the selection procedure for the position of the Czech Republic's representative in the International Monetary Fund (IMF) in Washington. Stanislav Polák will take on his post in November 2004 based on the nomination by the IMF Executive Director Willy Kiekens, the representative of the Belgian constituency, of which the Czech Republic is a member. Mr Polák will be appointed to the position of Senior Adviser to Mr Kiekens for the period of 4 years. In this position he will replace Jiří Jonáš who has been working in the IMF since 1991.

Based on an agreement between the Czech Ministry of Finance and the Czech National Bank concluded in 2003, the CNB nominates CR representatives in the IMF, and the Ministry of Finance nominates representatives in the European Bank for Reconstruction and Development (EBRD) and the World Bank (WB). The CNB and the Ministry of Finance mutually approve the nominations.

Stanislav Polák (42) at present holds the post of Director of the CNB's External Economic Relations Division. Since 1990 when he joined the CNB, he has gradually acquired experience in the area of monetary policy and macroeconomic analyses. He acted also as an adviser to the Bank Board and worked as Director of the Economic Modelling Division. Stanislav Polák graduated from the Faculty of Trade at the University of Economics in Prague. He has undertaken study trips at Columbia and Cornell Universities, the USA.

Note: In addition to the Czech Republic and Belgium the Belgian constituency includes Austria, Belarus, Hungary, Kazakhstan, Luxembourg, Slovakia, Slovenia and Turkey.

Pavlína Bolfová, CNB spokesperson