Camille Gutt

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Camille Gutt (14 November 1884–1971), was a Belgian economist, politician, and industrialist. He served as the first Managing Director of the International Monetary Fund (IMF) from 6 May 1946 to 5 May 1951. Camille Gutt was the architect of a monetary reform plan, which facilitated the recovery of the Belgian economy after World War II.

[edit] Education

Born in Brussels, Camille Gutt obtained a PhD in law, a Master degree in political and social sciences.

[edit] Career

Camille Gutt was Minister of Finance of Belgium in 1934-1935 and 1939-1940, Minister of Finance, Defence, Economics and Traffic in 1940-1942, Minister of Finance and economics in 1942-1943, and Minister of Finance in 1943-1944.

He was responsible for saving the Belgian franc, before and after World War II. Before the war, he saved the Belgian currency by secretly transferring the gold reserves of the Belgian National Bank out of Nazi reach. After the war he stabilized the Belgian franc, and forestalled inflation, with what still is known as the Gutt operation. Camille Gutt also played a major role in forging the Benelux, and by this contributed to the formation of the European Union.

[edit] Source

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