International Monetary Fund (IMF) Managing Director Kristalina Georgieva announced on Wednesday that Mitsuhiro Furusawa intends to conclude his service as Deputy Managing Director on November 30, 2021. Mr. Furusawa has been a member of the Fund’s management team since March 2015.
“Furusawa-san has been a skillful leader, an excellent communicator, and most important, a tremendous team player. His exemplary diplomatic skills and always thoughtful interactions have commanded respect and ensured excellent relations with member countries. We will miss him greatly,” said Ms. Georgieva.
In his capacity as Deputy Managing Director, Mr. Furusawa led the Fund’s work on reforms of quota and the Fund finances, new rounds of New Arrangements to Borrow and bilateral borrowing agreements, internal and external audit matters, and concessional financing reforms, as well as serving as the chair of the Investment Oversight Committee. He was a key player in the Fund’s work on the historic $650 billion SDR Allocation and, most recently on voluntarily channeling SDRs to countries most in need. Mr. Furusawa also spearheaded fundraising efforts for the Catastrophe Containment and Relief Trust. Mr. Furusawa oversaw the IMF engagement with a large number of member countries, regional blocks, and currency unions, such as the Association of Southeast Asian Nations (ASEAN), the Central African Economic and Monetary Community (CEMAC), and the West African Economic and Monetary Union (WAEMU). His leadership and strategic foresight were crucial in bringing several complex program cases to a successful completion.
Ms. Georgieva added: “Furusawa-san has always put service to the membership first, including in his interactions with the IMF’s Executive Board. He is well known for making sure that the views of all member countries are given due attention. One cannot praise him enough for his dedication to the core values of the Fund and his great respect for Fund staff and their work.”
Prior to coming to the Fund, Mr. Furusawa had a long and distinguished career in public service. He held several senior positions in Japan’s Ministry of Finance. He served as Special Advisor to Former Japanese Prime Minister Shinzo Abe and Special Advisor to the Minister of Finance. Among his many ministry postings, he served as Vice Minister of Finance for International Affairs (2013-2014) and Director-General of the Financial Bureau (2012-2013). Mr. Furusawa also served as Executive Director for Japan at the Fund from 2010 to 2012, during which he provided exceptional support to put together the 2012 Annual Meetings in Tokyo.
A 1979 graduate of the University of Tokyo with an LL.B. degree, Mr. Furusawa also graduated in 1983 from the École Nationale d’Administration in Paris.
The process is underway to name a successor.