Press Release: IMF Managing Director Dominique Strauss-Kahn Proposes Appointment of Nemat Shafik as Deputy Managing Director

IMF News, February 23, 2011

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Canonical URL: Press Release: IMF Managing Director Dominique Strauss-Kahn Proposes Appointment of Nemat Shafik as Deputy Managing Director

Press Release No. 11/55
Date: February 23, 2011
Proposed appointment: Ms. Nemat Shafik to the position of Deputy Managing Director of the International Monetary Fund (IMF).
She will succeed Mr. Murilo Portugal, who resigned effective March 4, 2011 (see Press Release No. 11/12).

Former youngest ever Vice President of the World Bank, responsible for a private sector and infrastructure portfolio of investments, and part of the senior management team of the International Finance Corp.
Currently Permanent Secretary of the U.K. Department for International Development (DFID), leading the department responsible for managing the U.K. overseas development strategy and budget.
Prior experience includes work in Cairo and service as a consultant on African economies.
Current membership: Middle East Advisory Group to the IMF.
Academic and teaching roles: has taught at the Wharton Business School and Georgetown University.
Languages spoken: Arabic, English and French.

Nationalities: Egypt, the U.K., and the U.S.
Age at time of release: 48
Education:
- Graduated from high school in Alexandria, Egypt.
- Attended the American University in Cairo.
- Degrees from the University of Massachusetts—Amherst and the London School of Economics.
- PhD in Economics from Oxford University.
Research and publications: has published widely, especially on the Middle East and North Africa.

Mr. Dominique Strauss-Kahn: "I am delighted to propose Nemat Shafik as the next Deputy Managing Director to succeed Murilo Portugal. A global citizen with a global reputation in fields ranging from emerging markets, international development, the Middle East and Africa, to the financial sector, Ms. Shafik brings to the Fund extensive experience in policy-making, management and academia."

The Managing Director selects and appoints the Deputy Managing Directors of the Fund.
These appointments require approval by the Executive Board.
As is the practice for such appointments, the Board is consulted regarding the type of qualifications that, in the view of the Executive Board, a Deputy Managing Director should possess.

Press Release No. 11/55 — International Monetary Fund, February 23, 2011