The International Monetary Fund (IMF) has launched an Advisory Council on Entrepreneurship and Growth to promote sustainable economic development across its 191 member countries. The council, chaired by IMF Managing Director Kristalina Georgieva, brings together a distinguished group of experts from business, finance, academia, and policymaking to shape policies that drive innovation and productivity. The council’s mission is to identify and recommend policies that enhance resource allocation, stimulate innovation, and drive sustainable private sector-led economic growth.
With the world economy facing its slowest medium-term expansion in decades, the council’s expertise will help shape strategies that promote inclusive growth and long-term economic stability. Georgieva emphasized the importance of productivity-driven policies in achieving economic prosperity during the council’s inaugural meeting on Thursday. She stated, “The medium-term outlook for world economic growth is at its lowest in several decades.
Much of the slowdown can be attributed to declining productivity growth.”
The confirmed members of the Advisory Council include Prof.
Elumelu joins IMF advisory council
Ufuk Akcigit from the University of Chicago, Amb.
Reema Al-Saud from Saudi Arabia, Marc Benioff of Salesforce, Ana Botín of Banco Santander, Natarajan Chandrasekaran of Tata Group, Margherita Della Valle of Vodafone Group, Tony Elumelu of Heirs Holdings, Robert Smith of Vista Equity Partners, and Federico Sturzenegger, Argentine Minister of Deregulation and State Transformation. The council is scheduled to meet approximately once every three months for structured discussions under Chatham House rules. These discussions are expected to inform the IMF’s analytical agenda and policy research aimed at promoting macroeconomic and financial policies that encourage higher productivity growth and support stronger medium-term economic prospects across its member countries.
The inclusion of prominent business leaders like Chandrasekaran and Elumelu reflects their extensive experience in business strategy and economic affairs. Chandrasekaran, the chairman of Tata Sons Limited, is also a board member of the Reserve Bank of India (RBI), while Elumelu, the founder and chairman of Heirs Holdings, has built a vast business empire spanning banking, energy, hospitality, and healthcare. The launch of the Advisory Council on Entrepreneurship and Growth underscores the IMF’s commitment to supporting its member nations in creating favorable economic conditions for sustainable growth and development.
By bringing together a diverse group of experts, the council aims to provide strategic insights and recommendations that will help shape the future of the global economy.
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