On April 11, 2020 The International Monetary Fund (IMF) Managing Director (MD) Kristalina Georgieva named former Reserve Bank of India(RBI) governor Raghuram Rajan and 11 others to its new External Advisory Group.Objective
To provide perspectives from around the world on key developments, policy issues, policy responses to the exceptional challenges the world now faces due to the coronavirus pandemic and its economic impact.
i.The group consists of members who have expertise in high- level policy, market and with private sector experience which makes the group an exceptional & diverse one and will meet the IMF’s MD, deputy MD & a subset of directors a few times a year
ii.Raghuram Rajan is currently working as a professor at the University of Chicago & the other group’s members are:
- Former finance minister of Nigeria- Ngozi Okonjo-Iweala; Senior minister of Singapore and chairman of the Monetary Authority of Singapore- Tharman Shanmugaratnam; Professor, Massachusetts Institute of Technology- Kristin Forbes; former prime minister of Australia- Kevin Rudd; former United Nations Deputy Secretary General- Lord Mark Malloch Brown;
- Honorary Chair, De Nederlandse Staatsmijnen in English its Dutch State Mines (DSM) & Former Chief Executive Officer (CEO), Royal DSM- Feike Sijbesima; Group executive chairman, Santande- Ana Botín; Professor, Harvard University- Carmen Reinhart; Chief economic adviser, Allianz- Mohamed A. El-Erian, Chief investment officer, Guggenheim Investments- Scott Minerd and chair of Action Aid International- Nyaradzayi Gumbonzvanda.
It was formed in July 1944 at the United Nations Bretton Woods Conference in New Hampshire to promote international financial stability, monetary cooperation, facilitate international trade, promote employment & sustainable economic growth, and help to reduce global poverty. It currently has 189 member countries.
Headquarters– Washington, United States