Sneha Girap (Editor)

Camille Gutt

Updated on
Edit
Like
Comment
Share on FacebookTweet on TwitterShare on LinkedInShare on Reddit
Preceded by
  
inaugural

Profession
  
Lawyer, economist

Name
  
Camille Gutt

Succeeded by
  
Nationality
  
Belgium

Religion
  
Judaism

Role
  
Belgian Politician

Camille Gutt downloadsunmultimediaorgphotomedium118118246jpg
Full Name
  
Camille Guttenstein

Born
  
14 November 1884Brussels, Belgium (
1884-11-14
)

Alma mater
  
Universite Libre de Bruxelles

Died
  
June 7, 1971, Brussels, Belgium

Education
  
Universite libre de Bruxelles

Similar People
  
Ivar Rooth, Pierre‑Paul Schweitzer, Per Jacobsson, Johan Witteveen, Jacques de Larosiere

Camille Gutt (14 November 1884 – 7 June 1971), born Camille Guttenstein, 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 that facilitated the recovery of the Belgian economy after World War II.

Contents

Early life

Born in Brussels, he was a son of Max Guttenstein and Marie-Paule Schweitzer. Max Guttenstein had moved to Belgium from Austria-Hungary in 1877 and became a Belgian citizen in 1886. Camille Gutt attended high school at the Royal Athenaeum in Ixelles. Gutt obtained a Ph.D. in legal studies, and a master's degree in political and social sciences at the Universite Libre de Bruxelles (ULB). During his study, he met Claire Frick, who he married in 1906. The marriage gave birth to three sons: Jean-Max (1914-1941), Francois (1916-1944) and Etienne (1922-).

Career

Camille Gutt worked in various industries, such as in the Societe Generale de Belgique and Groupe Empain as well as politics. During World War I, Gutt worked for Georges Theunis and again from 1920 until 1924 as his Chief of Cabinet. Later, Gutt also worked for the cabinet of Emile Francqui. Camille Gutt was Minister of Finance of Belgium in 1934-1935 and 1939-1940, Minister of Finance, Economics and Traffic in 1940-1942, Minister of Finance and economics in 1942-1943, and Minister of Finance in 1943-1944 in the Belgian government in exile in London.

Gutt 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.

Selected publications

  • ——— (1947), "The International Monetary Fund and Its Functions", Proceedings of the Academy of Political Science 22 (2): 49–56, doi:10.2307/1173022 .
  • ——— (1948), "Exchange Rates and the International Monetary Fund", Review of Economics and Statistics 30 (2): 81–90, doi:10.2307/1928786 .
  • References

    Camille Gutt Wikipedia


    Similar Topics