IMF establishes advisory council on entrepreneurship, economic expansion
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has inaugurated an Advisory Council on Entrepreneurship and Economic Expansion.
This was disclosed in a statement issued by the IMF Press Centre on Thursday.
According to the statement, members of the council will offer insights and expertise on fostering entrepreneurship and productivity through macroeconomic and financial policies.
The primary objective is to identify strategies that enhance resource allocation, stimulate innovation, and promote private sector-driven economic growth.
The statement further revealed that Georgieva convened the council’s inaugural meeting on Thursday.
This initiative forms part of the IMF’s broader efforts to support its 191 member countries in establishing more favourable macroeconomic and financial conditions for sustainable economic growth, underpinned by productivity improvements.
In her address, Georgieva remarked, “The medium-term outlook for global economic growth is at its weakest in decades.
“A significant portion of this slowdown is due to diminishing productivity growth.”
She underscored that the council brings together a distinguished panel of leaders from business, finance, academia, and policymaking to exchange perspectives on how macroeconomic and financial policies can cultivate an environment conducive to innovation, entrepreneurship, and productivity.
“These elements are fundamental to a thriving private sector and sustained economic progress,” she stated.
The confirmed members of the Advisory Council include Prof. Ufuk Akcigit, Professor of Economics at the University of Chicago, and Amb. Reema Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States.
Other members include Marc Benioff, Chair, CEO, and Co-Founder of Salesforce; Ana Botín, Executive Chair of Banco Santander; Natarajan Chandrasekaran, Chairman of Tata Group; and Margherita Della Valle, Chief Executive of Vodafone Group.
Additionally, the council includes Tony Elumelu, Founder and Chairman of Heirs Holdings; Robert Smith, Founder, Chairman, and CEO of Vista Equity Partners; and Federico Sturzenegger, Argentine Minister of Deregulation and State Transformation.
The IMF Managing Director’s Advisory Council is scheduled to convene approximately once every three months for structured discussions under Chatham House rules.
“These deliberations will contribute to shaping the IMF’s analytical priorities and policy research, with the aim of advancing macroeconomic and financial policies that drive higher productivity growth and enhance medium-term economic prospects across its member nations.”
