{
  "title": "Press Release: IMFC Selects Dr. Youssef Boutros-Ghali as New Chairman",
  "publication": "IMF News, October 6, 2008",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr08234",
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  "summary": "Members of the International Monetary and Financial Committee (IMFC) have selected Dr. Youssef Boutros-Ghali, the Minister of Finance of Egypt, as Chairman of the Committee.",
  "publishDate": "2008-10-06",
  "sections": [
    {
      "heading": "Selection and Term",
      "content": "- Members of the International Monetary and Financial Committee (IMFC) have selected Dr. Youssef Boutros-Ghali, the Minister of Finance of Egypt, as Chairman of the Committee.\n- Dr. Boutros-Ghali succeeds Mr. Tommaso Padoa-Schioppa, Italy's former Minister of Economy and Finance, who resigned in May 2008.\n- Dr. Boutros-Ghali has accepted the IMFC's chairmanship for a term of up to three years.\n- Announcement date: October 6, 2008."
    },
    {
      "heading": "Professional background of Dr. Youssef Boutros-Ghali",
      "content": "- Has been a member of the Egyptian government since 1993.\n- Became Minister of Finance in July 2004.\n- Previously held ministerial positions in international cooperation, economic affairs, and foreign trade.\n- Former IMF staff member.\n- Served as chief negotiator of Egypt's fundamental reform programs implemented with IMF support in the late 1980s and early 1990s.\n- Noted as the first Committee Chairman from among the emerging market and developing countries."
    },
    {
      "heading": "IMFC mandate and history",
      "content": "- The IMFC was established in September 1999 to replace the Interim Committee set up in 1974.\n- Purpose: to strengthen the role of the primary advisory committee of the IMF.\n- Role: advises the Board of Governors on supervising the management and adaptation of the international monetary system and dealing with sudden disturbances that might threaten the stability of the system.\n- The Committee deliberates on the principal policy issues facing the IMF."
    },
    {
      "heading": "Composition and meetings",
      "content": "- The Committee has 24 members, reflecting the composition of the IMF Executive Board.\n- Each member country that appoints, and each group of countries that elects, an Executive Director, appoints a member of the Committee.\n- Committee members are Governors of the IMF, Ministers, or other officials of comparable rank.\n- The Committee usually meets twice a year—in the spring and ahead of the Annual Meetings in the autumn.\n- Next scheduled meeting: October 11, 2008 in Washington, D.C.\n\nSource: Press Release No. 08/234, October 6, 2008.\n\n---\n\n Content in this bundle\n\n- Pr08234apdf (PDF){rel=\"external\" type=\"application/pdf\"}\n- Pr08234cpdf (PDF){rel=\"external\" type=\"application/pdf\"}\n- Pr08234jpdf (PDF){rel=\"external\" type=\"application/pdf\"}\n- Pr08234rpdf (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Arab Republic of Egypt and the IMF\n- Italy and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr08234"
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    "Published: October 6, 2008",
    "Members of the International Monetary and Financial Committee (IMFC) have selected Dr. Youssef Boutros-Ghali, the Minister of Finance of Egypt, as Chairman of the Committee.",
    "Dr. Boutros-Ghali succeeds Mr. Tommaso Padoa-Schioppa, Italy's former Minister of Economy and Finance, who resigned in May 2008.",
    "Dr. Boutros-Ghali has accepted the IMFC's chairmanship for a term of up to three years.",
    "Announcement date: October 6, 2008.",
    "Has been a member of the Egyptian government since 1993.",
    "Became Minister of Finance in July 2004.",
    "Previously held ministerial positions in international cooperation, economic affairs, and foreign trade.",
    "Former IMF staff member.",
    "Served as chief negotiator of Egypt's fundamental reform programs implemented with IMF support in the late 1980s and early 1990s.",
    "Noted as the first Committee Chairman from among the emerging market and developing countries.",
    "The IMFC was established in September 1999 to replace the Interim Committee set up in 1974.",
    "Purpose: to strengthen the role of the primary advisory committee of the IMF.",
    "Role: advises the Board of Governors on supervising the management and adaptation of the international monetary system and dealing with sudden disturbances that might threaten the stability of the system.",
    "The Committee 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 that appoints, and each group of countries that elects, an Executive Director, appoints a member of the Committee.",
    "Committee members are Governors of the IMF, Ministers, or other officials of comparable rank.",
    "The Committee usually meets twice a year—in the spring and ahead of the Annual Meetings in the autumn.",
    "Next scheduled meeting: October 11, 2008 in Washington, D.C.",
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