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Magdalena Andersson takes over as Chair of the primary advisory body of the IMF
Today, Minister for Finance Magdalena Andersson takes over as Chair of the International Monetary and Financial Committee (IMFC), the primary advisory body of the International Monetary Fund (IMF). At a press conference with Managing Director of the IMF Kristalina Georgieva, Magdalena Andersson presented the direction of the IMFC’s work under her leadership as Chair.
“The global economy is facing many challenges that need to be managed jointly by the world’s countries. We need to get our economies going again after the pandemic, and that must be done inclusively and equitably. This crisis offers a unique opportunity to accelerate the climate transition and build a stronger and more equal society,” says Ms Andersson.
“I am delighted that Magdalena Andersson has been selected by the IMF’s membership to chair the International Monetary and Financial Committee (IMFC) for the next three years. I have worked with the Minister in the past and I am absolutely certain that her deep experience will serve all of us well in these extraordinary times. We are entering one of the most consequential periods in modern history, when we will need strong international cooperation to secure the recovery from the Covid pandemic, and boost growth and jobs in a new green and digital economy. With Magdalena Andersson’s leadership, the IMFC has a pivotal role to play. I look forward to working closely with her in service of our 190 members,” says IMF’s Managing Director Kristalina Georgieva.
They both emphasise the IMF’s key role as an actor in promoting a global economy that is healthier, more robust and more sustainable than before the pandemic, and highlight the IMFC’s central advisor role in multilateral economic cooperation.
The IMFC has 24 members and usually meets twice a year at the Annual and Spring Meetings of the IMF. Magdalena Andersson is the first women to hold the Chair of the IMFC. Ms Andersson will combine this role with her responsibilities as Minister for Finance.