Federal Finance Minister Paul Martin today announced that Ian Bennett, currently Associate Deputy Minister to Martin, has been nominated for the position of executive director representing Canada, Ireland and the Caribbean countries at the International Monetary Fund.

Bennett has held a number of senior positions with the Department of Finance. He served as the G-7 Deputy for Canada between 1998 and 2000. In this capacity, he was involved in a wide range of policy issues, including the international community’s response to the Asian financial crisis and other major financial developments over the past several years. As G-7 Deputy he was also instrumental in the successful launch of the G-20, which was created in 1999 to foster a dialogue among a broad range of countries at different stages of economic and financial development.

It is expected that Bennett will assume his new position as IMF executive director for Canada in September 2001. He replaces Thomas Bernes, who has filled the role at the IMF since 1996.

“I want to extend my sincere personal thanks to Tom Bernes, and I know my colleagues in the other countries of our constituency will join me,” said Martin. “Mr. Bennett has agreed to undertake this important and challenging post at a critical time. While much progress has been made in reforming the international financial system, there is more to be done. The IMF is at the core of these efforts and Mr. Bennett will be actively engaged in the process.”