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                                                       . INTERNATIONAL BANK' FOR
                                                      RECONSTRUCTIOH AND DEVELOPMENT
                                                                  Washington
                 FOR THE PRESS                                                                   For Release 8 p.m,          E.s.T~
                 Press Release No. 170                                                           Sunday; February       5,   19SO
                                     (This information is being released.
                                      stmultaneously in ottawa.)
                      The I:nte~national Bank £or Reconstruction and Development announced
                 today that Louis Ra.sm:j.nsky., Aiternate Chairman of the Fo;r-eign                     ~1,;,1.cuige

                 Control Board;; of C.anad.a., has been elected Executive Director of the Banlc
                 by Can84a and Iceland.                 Mr• ~smin$ley\ succeeds Donald Gordon           who resigned to
                 accept the position.of President and Chairman of the Board of the Canadian
                 Natiop.al Railways.



•                     Mr. Rasntlnsky has ~een an Executiye Director ot the International Moneta17
                 Fund since Harch 1946.when he w:as elected to represent Norway and Canada, Sinee
                 Septembe~ 1948; he has represented Iceland and Q~ada.
                      As a member of the Canadian Delegation to the Bretton Woods Conterenoe in
                 1944, Mr. RasmlJ;lsky vras Chairman of the Dr~t).hg Committee O!l the International
                 Monetary F~d· He attended the San                          Francisco Conf'erence   of' the United Nations in

                 194$. Fx-om 1940't6111942,; he organized and direct~a the ~search and.
                                                                                    ·\(
                                                                                        Statistic:al
                 SectiQn of the Foreign Exchange Control Boar~ of Canada,                            Ih 1942 he was appointe~
                 Alternate Chai~an ancl Chief ~ecutive Officer of the BoaJ:'d,                          a function       h~ con-

                 tinues to pertq~• :tn 1943 he also became :mxecutive Assistant to the Governors
                  .       .      .   .· ·. ,,   . •          •    • .   .   .          ..   .1
                 or the Bank ot Cs.nada. Mr. Rasminsky servea in tartous capacities, particularly
                 in the f~$n6141 field 1 in the League of N'ations i'rom 19.30 to 19.39.

                      Born in IviontreaJ. 0 iri 1~08~ I&,. Rasmineky iS a grad~ate 01' the University of

  '          C
                 Toronto and attet14ed the London Schooi o:t Economic$ for two years•
                                       ','
                                                                                                                 He is the
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                 author of many publications and art3:"c1es on economic and financial affairs.