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Chair of IMFC resigns.

Washington: Chair of the International Monetary and Financial Committee (IMFC) Agustin Carstens formally resigned, effective December 1, 2017, as he steps down as Governor of the Banco de Mexico and assumes the position of General Manager of the Bank for International Settlements.

IMF Managing Director Christine Lagarde said, "I am grateful for Agustin's service to the IMF and its membership, and commend him for his outstanding leadership and strong dedication to international cooperation. Under his chairmanship, the IMFC played a key role in providing advice and guidance to the IMF and the international community to help secure global economic and financial stability, and promote strong, sustainable, and inclusive growth. During his tenure, the IMFC also reaffirmed the critical role the IMF plays at the center of the international monetary and financial system."

The selection process for a new chair will begin shortly. IMFC members will consult until a consensus on a new IMFC Chair is reached.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:Dec 20, 2017
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