Wednesday. 08.02.2023
GOVERNMENT

Calviño to chair IMF's International Monetary and Financial Committee

The Board of Governors of the IMF confirmed her appointment for the next two years
The First Vice President and Ministry of Economic Affairs, Nadia Calvino. Photo: Ministry of Economic Affairs.
The First Vice President and Ministry of Economic Affairs, Nadia Calvino. Photo: Ministry of Economic Affairs.

Spanish First Vice President and Minister of Economic Affairs, Nadia Calviño, has been appointed chair of the International Monetary and Financial Committee (IMFC), which advises the International Monetary Fund (IMF) on the supervision and management of the monetary system and international finance.

The Board of Governors of the IMF confirmed her appointment for the next two years. This position is compatible with the functions of the first vice president in the Government of Spain.

The decision was preceded by the unanimous agreement of the Ministers of Economy and Finance of the European Union (ECOFIN) to designate Calviño as the European candidate to replace Magdalena Andersson, following her appointment as Prime Minister of Sweden.

Calviño said that "it is a great honor to chair the International Monetary and Financial Committee," which is the IMF's main advisory body. She also expressed her gratitude "to the Board of Governors of the International Monetary Fund for supporting my appointment."

She has also congratulated the Prime Minister of Sweden, Magdalena Andersson, for the role she has played as the previous chair of the Committee.

Solution to the crisis

In a statement, the Ministry of Economic Affairs said that multilateral cooperation "will continue to be decisive in ensuring an effective response to the pandemic and seeking a very different solution to this crisis". 

"The International Monetary Fund plays a crucial role in achieving a sustainable and inclusive recovery around the world," Calviño said after her appointment was confirmed.

Likewise, she recalled that Spain has been very active in supporting policy coordination in multilateral institutions and this will continue to be her priority as president of this committee and as a member country of the IMF.

The IMFC advises and reports to the IMF's Board of Governors on the supervision and management of the international monetary and financial system, and its discussions and conclusions guide the IMF's work program. It has 24 members, among which are the Ministers of the major world economies. The IMFC meets twice a year.

Calviño to chair IMF's International Monetary and Financial Committee
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