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The Managing Director of International Monetary Fund (IMF), Kristalina Georgieva, announced at the weekend that Mr David Lipton, First Deputy Managing Director (FDMD), would be leaving at the end of this month in the context of changes she will be making to the leadership team. Mr. Lipton is the IMF’s longest-serving FDMD, a position he took up in September 2011, even as the Fund said a search for his replacement would start shortly.
His wide-ranging portfolio at the IMF covered strategy, policy development, multilateral and country surveillance, as well as lending programmes. He led several major initiatives, including the Fund’s Early Warning Exercise—held twice a year at the spring and annual meetings to highlight present and future challenges faced by policymakers; the External Balance Assessment Framework and the related External Sector Report, which assess countries’ external positions and exchange rates; and, new work on the integrated policy framework, which considers how policy tools work best jointly and aims at strengthening Fund surveillance and traction.
