In that case, the Council of Administration shall elect to the chairmanship one of the member countries belonging to the geographical group of the host member country.
IMF Executive Board in Septembers 27, 2007, welcomed"Yemen's generally favorable recent economic performance, including the decline in the poverty rate, as well as the progress being made on a number of structural reforms.".
The Council of Administration shall also be authorized to adjust, each year, the amount of expenditure other than that relating to staff on the basis of the Swiss consumer price index.
The Supervisory Board firmly believes that the Executive Board's new composition will ensure it remains in an excellent position to successfully lead Hapag-Lloyd into the future," says Michael Behrendt.
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