Rodrigo de Rato assumed office as Managing Director of the International Monetary Fund on June 7, 2004. This followed his selection by the Executive Board of the IMF, on May 4, 2004, to serve as Managing Director and Chairman of the Executive Board. Prior to taking up his position at the IMF, Mr. de Rato was Vice President for Economic Affairs and Minister of Economy for the Government of Spain, a post to which he was appointed in May 1996. In his capacity as Minister of Economy, Mr. de Rato was also Governor for Spain on the Boards of Governors of the IMF, the World Bank, the Inter-American Development Bank, the European Investment Bank, and the European Bank for Reconstruction and Development.
Mr. de Rato earned a law degree in 1971 from the Universidad Complutense in Madrid, and a Master of Business Administration from the University of California at Berkeley in 1974. In 2003, he earned a PhD in Economics from the Universidad Complutense.