Press Release: IMF Managing Director Köhler Proposes Raghuram Rajan as Economic Counsellor and Director of the IMF's Research Department
IMF News, July 2, 2003
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- Published: July 2, 2003
Appointment announcement
- Press Release No. 03/100
- Date: July 2, 2003
- Horst Köhler, Managing Director of the International Monetary Fund (IMF), notified the IMF Executive Board of his intention to appoint Professor Raghuram Rajan as Economic Counsellor and Director of the Research Department at the IMF.
- Mr. Rajan will succeed Kenneth Rogoff, who had earlier announced his decision to return to academia in the Fall of 2003 (see Press Release No.03/61, April 29, 2003).
Managing Director Köhler’s statement
- Köhler: "I am indeed happy to announce my intention to appoint Raghuram Rajan, currently Joseph L. Gidwitz Professor of Finance at the University of Chicago Graduate School of Business, as Economic Counsellor and Director of the Research Department."
- Expected contributions highlighted:
- Bring "a strong and proven record of intellectual leadership to the IMF."
- Develop further the IMF's research program "to the leading edge of economic theory and policy."
- Strengthen the IMF's role "as a center of excellence in macroeconomic and financial sector stability."
- Help the Fund "meet its responsibilities in supporting its members in an increasingly complex and challenging global environment."
Raghuram Rajan — background, qualifications, and roles
- Age and nationality:
- Mr. Rajan, 40, an Indian national.
- Current and prior academic positions:
- Joseph L. Gidwitz Professor of Finance at the University of Chicago Graduate School of Business.
- Prior professorships at MIT, Northwestern University, and the Stockholm School of Economics.
- Honors and professional roles:
- Awarded the inaugural Fisher Black Prize by the American Finance Association in January 2003, given to the person under 40 who has contributed the most to the theory and practice of finance.
- Director of the American Finance Association.
- Associate editor of the American Economic Review.
- Program director for corporate finance at the National Bureau of Economic Research.
- Consulting and advisory experience:
- Consultant to the Federal Reserve Board, the World Bank, the IMF and various financial institutions.
Press Release No. 03/100 — July 2, 2003, International Monetary Fund.