IMF MD names Okonjo-Iweala, others in advisory group

IMF Managing Director, Kristalina Georgieva, on Friday, named a former Nigerian finance minister, Dr. Ngozi Okonjo-Iweala, among a group of prominent individuals appointed to serve as her new External Advisory Group.

A statement posted on the IMF website said the group, comprising individuals with high-level policy, market, and private sector experience, would provide insights to enhance the Fund’s ability to serve its membership.

Other members of the group are Mr. Tharman Shanmugaratnam, Senior Minister of Singapore and Chairman of the Monetary Authority of Singapore; Ms. Kristin Forbes, Professor, Massachusetts Institute of Technology, and Mr. Kevin Rudd, former Prime Minister of Australia.

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Also in the team are Lord Mark Malloch Brown, former United Nations Deputy Secretary-General; Mr. Feike Sijbesima, Honorary Chair, DSM;  Former CEO, Royal DSM, Mr. Raghuram Rajan, Professor, University of Chicago, and Ms. Ana Botín, Group Executive Chairman, Santander.

The group also include Ms. Carmen Reinhart, Professor, Harvard University; Mr. Mohamed A. El-Erian, Chief Economic Adviser, Allianz; Mr. Scott Minerd, Chief Investment Officer, Guggenheim Investments, and Ms. Nyaradzayi Gumbonzvanda, Chair of ActionAid International.

The group is expected to provide perspectives from around the globe on key developments and policy issues, including policy responses to the exceptional challenges the world now faces due to COVID-19 and its economic impact.

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Announcing the establishment of the group, Georgieva said, “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.

“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.

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“Today we had a dynamic discussion to gain their insights, and to receive informal reactions to our ideas and approaches.”

The 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 Directors.

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