The Director of the Finance Department at the International Monetary Fund (IMF),Mr. Andrew Tweedie, has notified IMF Managing Director Kristalina Georgieva of his intention to retire from the Fund on July 31, 2021.
This is according to a statement issued today, February 16, 2021 by the International Monetary Fund indicating that following the intended retirement of the Finance Department’s Director, the IMF “will begin right away” its search process to identify a successor to Mr. Andrew Tweedie.
During his tenure in office as Finance Director, Mr. Andrew Tweedie oversaw the mobilization, management and control of the Fund’s financial resources. Additionally, in the performance of his duties, Andrew advised the Management team and the Executive Board on all aspects of the Fund’s financial policies and operations.
In his capacity, Andrew is also responsible for the development and implementation of policies aimed at ensuring the efficient and sound management of the Fund’s resources, financial reporting, accounting, liquidity and asset management, and the conduct of the Fund’s financial transactions with member countries. Notable amongst his achievements was the key role played in the IMF’s quota reform and in the development of a new income model.
Giving some background information about Mr. Andrew Tweedie, the International Monetary Fund revealed that he is a New Zealand national, and has served in his current position for over 12 years since May 2008, spearheading the affairs of the Finance Department.
Before ascending to the position of Director of IMF’s Finance Department, Mr. Andrew Tweedie previously served in a range of senior positions including Mission Chief in the Asia Pacific and Western Hemisphere Departments, Assistant to the Fund’s Chief Economist, Advisor to the Deputy Managing Director, and Deputy Director of the Finance Department.
Prior to joining the International Monetary Fund in 1987, Mr. Andrew Tweedie worked for the Reserve Bank of New Zealand, where he held managerial positions overseeing monetary policy, banking, and domestic economic analysis. He has also served as a consultant on monetary and banking policy at the Bank of Papua New Guinea.
Mr. Andrew Tweedie holds a first-class honors degree in Economics from Victoria University in Wellington, New Zealand. Also, he has an immense worth of knowledge and experience in various fields mainly in economics and the financial sector.
Ms. Kristalina Georgieva commenting, acknowledged Mr. Andrew Tweedie’s contribution of his vast knowledge and experience to the growth of the International Monetary Fund. Also, she noted his assistance in enabling the Fund to remain financially sound.
“Andrew’s outstanding knowledge and experience have strengthened the IMF’s role as a trusted partner for our member countries. I have highly valued his wise counsel and instrumental contributions, especially in helping the Fund adapt and rapidly respond to unprecedented requests by member countries for emergency financing to cope with the COVID-19 crisis.
“He played a pivotal role in the Fund’s response to the Global Financial Crisis, including the quadrupling of the Fund’s lending capacity through a doubling of quotas, an expansion of the New Arrangements to Borrow, and several rounds of bilateral borrowing agreements. These were critical steps that helped secure the Fund’s strong financial position at the center of the global financial safety net. He will be dearly missed”.Kristalina Georgieva
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