The Diplomat
First Vice-President and Minister for Economic Affairs and Digital Transformation Nadia Calviño has been selected as chair of the International Monetary and Financial Committee (IMFC), the policy-making authority of the International Monetary Fund (IMF).
She will take over from Sweden’s prime minister, Magdalena Andersson, who resigned from the post she took up on 18 January 2021, making her the first woman to chair the committee, the committee said in a statement.
Calviño, who will be for a period of two years as president of the IMFC, will be able to combine this work with her functions as economic vice-president in Spain. The number ‘two’ of the Executive received the support of the ministers of Economy and Finance of the European Union (Ecofin) for this position.
This is a committee that plays a “key strategic guidance role” in IMF policies, according to the IMF itself, by advising and informing the governing board on the surveillance and management of the international monetary and financial system, including responses to developments that could disrupt the system.
In a video on her Twitter account, Calviño thanked the IMF governors for her appointment and argued that multilateral coordination “is key to ensuring financial stability and driving strong, sustainable and inclusive growth”.
On the same social network, the President of the Government, Pedro Sánchez, wrote: “You have our full support in this new task from which you will continue to work for an economically and socially just global recovery”
It has 24 members whose appointment reflects the size and composition of the executive board, and its chair generally serves a three-year term.
