Global financial institution, the International Monetary Fund (IMF) has named former Nigerian Minister of Finance, Dr. Ngozi Okonjo-Iweala as member of its External Advisory Group.
Managing Director of IMF, Kristalina Georgieva who made the announcement in a statement on Friday, said the financial body needed top-notch input and expertise from the widest range of sources, inside and outside the Fund.
The group of prominent individuals chosen from around the world, draws on high-level policy, market, and private sector experience and are to provide insights to enhance the Fund’s ability to serve its membership.
“Even before the spread of Covid-19 and the dramatic health, economic, and financial disruptions it has brought, IMF members confronted a rapidly evolving world and complex policy issues,” Georgieva said.
“To serve our membership well in this context, we need top-notch input and expertise from the widest range of sources, inside and outside the Fund.
“Toward this end, I am proud that an exceptional and diverse group of eminent individuals with high-level policy, market, and private sector experience has agreed to serve on my External Advisory Group. Today we had a dynamic discussion to gain their insights, and to receive informal reactions to our ideas and approaches,” she added.
The members of the Managing Director’s External Advisory Group include: Ngozi Okonjo-Iweala, former Finance Minister of Nigeria; Tharman Shanmugaratnam, Senior Minister of Singapore and Chairman of the Monetary Authority of Singapore; Kristin Forbes, Professor, Massachusetts Institute of Technology; Kevin Rudd, former Prime Minister of Australia; as well as Mark Malloch Brown, former United Nations Deputy Secretary-General
Others are: Feike Sijbesima, Honorary Chair, DSM, Former CEO, Royal DSM; Raghuram Rajan, Professor, University of Chicago; Ana Botín, Group Executive Chairman, Santander; Carmen Reinhart, Professor, Harvard University; Mohamed A. El-Erian, Chief Economic Adviser, Allianz; Scott Minerd, Chief Investment Officer, Guggenheim Investments; and Nyaradzayi Gumbonzvanda, Chair of ActionAid International.
The Managing Director’s External Advisory Group will meet a few times a year with the IMF’s Managing Director, Deputy Managing Directors, and a sub-set of IMF department