Prior to joining the Bank of Israel, Mr. Fischer was Vice Chairman of Citigroup from February 2002 through April 2005, where he was also Head of the Public Sector Group from February 2004 to April 2005, Chairman of the Country Risk Committee, and President of Citigroup International. Mr. Fischer was the First Deputy Managing Director of the International Monetary Fund, from September 1994 until the end of August 2001. Before he joined the IMF, Mr. Fischer was the Killian Professor and Head of the Department of Economics at MIT (Massachusetts Institute of Technology). From January 1988 to August 1990 he was Vice President, Development Economics and Chief Economist at the World Bank. Mr. Fischer was born in Zambia in 1943. He took the B.Sc (Econ) and M.Sc. (Econ) at the London School of Economics from 1962-66, and obtained his Ph.D. in economics at MIT in 1969. He was Assistant Professor of Economics at the University of Chicago until 1973, when he returned to the MIT Department of Economics as an Associate Professor. He became Professor of Economics in 1977. He has held visiting positions at the Hebrew University, Jerusalem, and at the Hoover Institution at Stanford. Mr. Fischer is the author of Macroeconomics (with Rudi Dornbusch and Richard Startz, 9 th edition, 2004). He is also the author of Lectures in Macroeconomics (MIT Press, 1989, with Olivier Blanchard), Economics (second edition, McGraw Hill, 1988, with Rudiger Dornbusch and Richard Schmalensee), IMF Essays From a Time of Crisis (MIT Press, 2004) and Indexing, Inflation, and Economic Policy (MIT Press, 1986) and the editor of other books, among them Securing Peace in the Middle East (MIT Press, 1994). From 1986 to 1994 he was editor of the NBER Macroeconomics Annual ; he has also served as Associate Editor of other economics journals. He has published extensively in the professional journals. Mr. Fischer is a Fellow of the Econometric Society and the American Academy of Arts and Sciences, a member of the Council on Foreign Relations, the G-30, and the Trilateral Commission, a Guggenheim Fellow, and a Research Associate of the National Bureau of Economic Research. He has served on the Boards of the Institute for International Economics, Women's World Banking and the International Crisis Group, as well as the International Advisory Board of the New Economic School, Moscow. Degrees: B.Sc. (Econ) London University, 1965 (London School of Economics) M.Sc. (Econ) London University, 1966 (London School of Economics) Ph.D. Massachusetts Institute of Technology, 1969 Doctor Honoris Causa, Tbilisi State University, Georgia, 1996 Doctor Honoris Causa, Ben Gurion University, Israel 1998 Doctor Honoris Causa, Tel Aviv University, 2001 Doctor Honoris Causa, University of Sofia, Bulgaria, 2004 Positions: Governor, Bank of Israel, May 2005–Present Vice Chairman, Citigroup, February 2002–April 2005 Chairman of Country Risk Committee, Citigroup, 2002–2005 President, Citigroup International, 2002–2004 Head, Public Sector Client Group, Citigroup, February 2004–2005 First Deputy Managing Director, International Monetary Fund, 1994–2001 Head, Department of Economics, M.I.T., 1993–1994 Elizabeth and James Killian Class of 1926 Professor, M.I.T., 1992–1995 Professor, Department of Economics, M.I.T., 1977–1999 Vice President, Development Economics and Chief Economist World Bank, January 1988–August 1990 Associate Professor, Department of Economics, M.I.T. 1973–77 Assistant Professor, Department of Economics, University of Chicago, 1970–73 Postdoctoral Fellow, Department of Economics, University of Chicago, 1969–70 Instructor, Department of Economics, M.I.T., 1969 Adjunct Senior Fellow, Council on Foreign Relations, 1994 Director, World Economy Laboratory, M.I.T., 1991–1993 Max Bogen Visiting Professor of Economics, Hebrew University, Jerusalem, 1984 Visiting Scholar, Hoover Institution, 1981–82 Fellow, Institute for Advanced Studies, Hebrew University, Jerusalem, 1976–77 Visiting Senior Lecturer, Department of Economics, Hebrew University, Jerusalem, 1972 Activities and Societies: Honorary Fellow, London School of Economics Research Associate, National Bureau of Economic Research Fellow of the Econometric Society Fellow, American Academy of Arts and Sciences Member, Council on Foreign Relations Member, Group of 30 Guggenheim Fellow Member, Financial Stability Forum Chairman's Advisory Council, 2002– Member, Board of Directors, Institute for International Economics, 2002– Member, International Advisory Board, New Economic School, Moscow, 2002– Member, Board of Directors, Women's World Banking, 2003– Member, Board of Trustees, International Crisis Group, 2004– Vice-President, American Economic Association, 1995 Member, Executive Committee of the American Economic Association, 1989–91 Chairman, Fellowship Committee, Gasparini Institute for Economic Research, Milan, Italy, 1990–1994. Honorary Adviser, Institute for Monetary and Economic Studies, Bank of Japan, 1987–1994 Member, Board of Trustees, Hebrew University, Jerusalem, 1986–1994. Member, Visiting Committee of MIT Economics Department, 2003– Member, Advisory Council of the Woodrow Wilson School, Princeton University, 1990–1994. Member, Visiting Committee, Kennedy School of Government, Harvard University, 1991–1997 Member, Board of Trustees, Falk Institute for Economic Research in Israel, 1987–1998 Member, Academic Advisory Council, Federal Reserve Bank of New York, 1992–1994; 2002– Member, Academic Advisory Council, Congressional Budget Office, 1993–1994. Member, Brookings Panel on Economic Activity, 1981–82, 1991–92. Member, Panel for Economic Policy, 1992–93. Member, National Science Foundation Economics Panel, 1978–80. Consultant: U.S. Treasury, U.S. State Department, World Bank, International Monetary Fund, Bank of Israel.