The Spanish First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, has been appointed as a European candidate to chair the International Monetary and Financial Committee (IMFC).
The IMFC advises and reports to the Board of Governors of the International Monetary Fund (IMF), providing strategic guidance to the work and policies of this body.
Calviño has become a European candidate by unanimous decision of the Ministers of Economy and Finance of the European Union (ECOFIN).
The European ministers have agreed to propose her to succeed the Swedish Magdalena Andersson, who leaves the post after her appointment as Prime Minister of her country. With her election, the Spanish vice president would complete that mandate.
According to the Spanish government, this is a position compatible with the functions of the Vice President and Minister of Economic Affairs and Digital Transformation, to which she opts for a period of two years.
Guide the IMF's work program
Once the candidacy has been announced by ECOFIN, the process will end in the coming weeks after a period of consultations within the executive board of the International Monetary Fund.
The IMFC meets twice a year, during the Annual and Spring Meetings of the IMF and the World Bank. The Committee 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.
The IMFC has 24 members, representing the Governors of the IMF member countries and among which are the Ministers of the main world economies.
