Mexico will chair the Board of Governors of the IMF and...

The holder of the Ministry of Finance and Public Credit (SHCP), Arturo Herrera, was nominated this Thursday as president of the Board of Governors of the World Bank and the International Monetary Fund (IMF) for 2021.

It is the second time that Mexico takes ‘the baton’; the first was in 1956, when Antonio Carrillo Flores was also head of the Treasury.

In this role, Herrera will seek that both institutions redouble their efforts to support the global economic recovery, give priority attention to low and middle income countries highly affected by COVID-19 and contribute to strengthening the international financial system.

The appointment was approved this day by the Board of Governors of the World Bank and ratification would be given on November 4, this time, by the Board of Governors of the IMF.

Additionally, in this function, Herrera will preside over some of the most important commissions of these organizations.

The Board of Governors is the highest-ranking body in both financial institutions, and is made up of the finance ministers or central bank governors of the 189 member countries.

This Board will meet during the spring meetings of the World Bank and International Monetary Fund, in Washington, DC, and at the annual meeting in October 2021, in the city of Marrakech, Morocco.

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