The International Monetary Fund (IMF) announced this Friday the creation of a group of external advisers on the economic impact of the coronavirus and explained that the Spanish Ana Botin, President of Banco Santander, will be one of its 12 members. This week, the businesswoman had joined the voices calling for decisive action from the European Union in the fight against the pandemic.
The role of Botin and the rest of the group members will be to offer their “perspective” on the responses that different governments of the world are giving to the pandemic, the Fund detailed in a statement. This group will meet “a few times a year” with the IMF’s managing director, Kristalina Georgieva, and other high positions of the organism.
In the statement, Georgieva argued that, in the face of the “dramatic health, economic and financial disruptions” caused by “the virus, the IMF needs” input and expertise from the highest level from a wide range of sources, from within and without ” the organization. “To that end, I am proud that an exceptional and diverse group of high-level people with experience in politics, the market and the private sector have agreed to be part of my group of external advisers,” said the director of the Fund.
In addition, he indicated that this Friday the group already had a “dynamic discussion” in which the advisers offered their points of view and expressed their opinion on the IMF’s strategy against the virus. In total, the group is made up of 12 people and Botin is the only Spanish, according to Efe.
The advisers have different profiles: from active and retired politicians to executives in the private sector, through ex-senior positions of international organizations and university professors, such as Kristin Forbes, who teaches at the Massachusetts Institute of Technology (MIT).
Other well-known members are the former Nigerian Minister of Finance. Ngozi Okonjo-Iweala; the deputy prime minister of singapore Tharman Shanmugaratnam; the former Prime Minister of Australia, Kevin Rudd; and the british Mark Malloch Brown, former Deputy Secretary-General of the UN.
This week, Georgieva assured that the “partial recovery” of the global economy will not take place until 2021 given the magnitude of the coronavirus pandemic, while reporting that more than 90 countries have already requested financial assistance from the organism. The IMF considers the current economic crisis to be the deepest since the Great Depression of 1930.
The Fund will present next Tuesday its “Global Economic Outlook” header report, with global projections in the context of the coronavirus pandemic, and it will be then when a more adjusted first estimate can be seen.