Press Release No. 21404

IMFC selects Nadia Calviño, Spain’s First Vice President, as new Chair

December 23, 2021

Washington, DC – December 23, 2021: The members of the International Monetary and Financial Committee (IMFC), the policy advisory committee of the Board of Governors of the International Monetary Fund (IMF), have selected Ms. Nadia Calviño, Spain’s First Vice President and Minister for Economy and Digitalization as Chair of the Committee for a term of two years, effective January 3, 2022. Ms. Calviño will succeed Ms. Magdalena Andersson, Prime Minister of Sweden and former Finance Minister, who will relinquish her duties as IMFC Chair at the end of December 2021.

Ms. Andersson has chaired the IMFC since January 18, 2021 and was the first woman to hold the position. Ms. Calviño will serve for the remaining two years of the Chair’s three-year term.

Ms. Calviño has been First Vice President of Spain since July 2021. She is also the current Minister for Economy and Digitalization, a position she has held since 2018. Prior to the ministerial post, she held other senior roles within the Ministry. Ms. Calviño has also served in senior positions in several directorates-general at the European Commission, including as Director General in charge of the EU Budget from 2014 to 2018. She has lectured at the Faculty of Economics at the Universidad Complutense of Madrid, and holds degrees in economics and law. Along with many previous awards, such as the Commendation of the Order of Civil Merit in 2015, she was recently awarded the 2021 Woman and Technology Award by the Orange Foundation.

Background

The IMFC, comprising finance ministers and central bank governors, is the primary advisory body of the IMF Board of Governors and deliberates on the principal policy issues facing the IMF. The Committee has 24 members, reflecting the composition of the IMF Executive Board. Each member country or group of countries that elects an Executive Director also appoints a member of the Committee. The IMFC normally meets twice a year—in the spring and at the time of the IMF/World Bank Annual Meetings in the fall. Its next meeting is scheduled to be held on April 21, 2022, in Washington, D.C.