Cairo University jumps 100 ranks in Shanghai Ranking    Egypt's Sisi appoints new Suez Canal Authority chairman    New micro-insurance policies in Egypt record $17 mln in H1    Sudan's opposition coalition, military council sign accord on transitional gov't    Uber says customers paid over $6 billion in cash last year    Sudan's key opposition may nominate economist Abdalla Hamdok for prime minister    Zimbabwe commission asks FIFA to fire soccer bosses    Disney warrior Mulan star: ‘I support the Hong Kong police, #BoycottMulan trending    Yemeni Houthis claim attack on Saudi Arabia's Shaybah oil field; no Saudi confirmation    US issues warrant to seize Iranian tanker off Gibraltar    China's missile destroyer Xi'an makes 4-day technical stop in Egypt    Trump reveals wishes to buy Greenland yet it's not for sale    Tennis: Murray to face Sandgren in Winston-Salem Open first round    Egypt's Zamalek equal club record with 7-0 hammering of Somalia's Dekedaha    Barcelona's Coutinho to join Bayern on loan    Egypt's Grand Mufti Allamdenounces Pakistan mosque terrorist attack    Oil climbs 0.7% as Wall Street rebounds, but weak OPEC outlook caps earnings    Egypt to launch Bike for Every Citizen initiative soon    Gold prices fall as equities rise, but eyes 3rd weekly earnings    LA Opera declines details on longtime general director's investigation    First destination of EgyptAir's sixth B787-9 Dreamliner is Beijing    Egypt's IDA, Chinese SEU University discuss increasing industrial cooperation    Samih Sawiris lays foundation stone of El Gouna Cultural Center    Alexandria's Summer Opera Festival kicks off Friday    Egypt's hot and humid weather to continue into Saturday    Ebola outbreak spreads to 3rd province in eastern Congo    EgyptAir operates 10 flights to bring pilgrims home Friday    Grain imports from Russia are carefully examined, says minister over radioactive blast    Egypt hosts Declaration of Change meeting to support stability in Sudan    Iran's Rouhani stresses rejection to foreign presence in Gulf    Economic, educational legislations will top fifth parliamentary round    New Alamein to host Amr Diab concert on Friday    Sudan opposition to nominate economist Abdalla Hamdok for prime minister: Sources    Multi-millionaire financier Jeffrey Epstein autopsy report shows broken neck    Liverpool wins Super Cup after penalty shootout against Chelsea    Egypt's Zamalek to announce new coach Sunday: Mortada Mansour    Egypt produces ‘Fraud' documentary on Muslim Brotherhood history    VIDEO: Egyptian Media Group releases ‘Scam,' documentary on ‘Muslim Brotherhood terrorist history'    Photo of Egyptologist Zahi Hawass to decorate NYC's Times Square to promote tourism to Egypt    Egypt to reopen Tanta Museum August-end: ministry    Egyptian tycoon Hussein Salem dies in Spain    FACE integrates homeless children into society    How Egyptians prepare for Eid Al-Adha    Three incredible Egyptian athletes who challenged their disabilities    Egypt keen on supporting youth: Sisi on IYD    T. Jefferson Parker tells latest tale in tight, vivid prose    Perpetrator of NCI blast identified, security kills 15 collaborators in shootout    EFA's marketing department awaits election of new board to develop Egyptian football: Zaher    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Egypt's ex-fin min Boutros-Ghali quits IMF panel
Published in Ahram Online on 05 - 02 - 2011

Youssef Boutros-Ghali, who was replaced as Egypt's finance minister in a cabinet shake-up this week amid violent protests to topple President Hosni Mubarak, resigned on Friday as head of the International Monetary Fund's main policy steering panel, the fund said.
Boutros-Ghali could have continued as chair of the IMF's International Monetary and Financial Committee (IMFC) even though he is no longer Egypt's finance minister, but the IMF said he had resigned with immediate effect.
The IMFC is comprised of finance ministers and central bankers from 24 countries and is the main advisory body to the fund's member countries.
He was the first finance minister from a large developing country to chair the IMFC at a time that emerging market economies pushed for greater say in the global institution.
He had chaired the panel since October 2008 at a time when the global financial crisis swept across the world and the IMF stepped in to provide rescue loans to countries including Hungary, Romania, Ukraine, Iceland, Greece and Ireland.
In Egypt, Boutros-Ghali has been replaced as finance minister by Samir Radwan, a former senior economist at the International Labour Organisation, the U.N. agency that oversees labor standards.
The IMF said in a statement it would immediately begin the process of selecting a new IMFC chair, which will be determined in a vote by the fund's 187 member countries. The committee officially meets twice a year -- in April and in the fall.
IMF Managing Director Dominique Strauss-Kahn noted that under Boutros-Ghali's leadership, the IMFC helped to modernize the fund that has seen emerging market economies like China, India, South Korea and Brazil win a bigger voice through more voting power.
"The IMF has gone through a significant transformation, making it stronger and better positioned to serve its universal membership," Strauss-Kahn said.

Clic here to read the story from its source.