IMF's policy advisory chair resigns

- By FX Markets Staff
- @FXMarkets_
- 12 May 2008

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Padoa-Schioppa was appointed in October 2007 as chairman of the IMFC for a term of up to three years. With the resignation, effective May 8, the IMFC begins the process of selecting a new chairman, which will involve consultations among IMF executive directors and in capitals until a consensus on a new chair is reached.

Padoa-Schioppa has been Italy's economy and finance minister since May 2006. He served as a member of the executive board of the European Central Bank from 1998 to 2005.

Paul

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