The International Monetary Fund (IMF) has launched a new 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 global experts from business, finance, academia, and policymaking to shape policies that drive innovation and productivity. The council’s mission is to recommend policies that promote better resource allocation, stimulate innovation, and drive sustainable private sector-led economic growth.
With the world economy facing its slowest medium-term expansion in decades, largely due to declining productivity, the council’s expertise will help shape strategies that promote sustainable and inclusive growth. The Advisory Council includes global business leaders, economists, and policymakers such as Tony Elumelu (Founder & Chairman, Heirs Holdings), Marc Benioff (Chair, CEO & Co-Founder, Salesforce), Ana Botín (Executive Chair, Banco Santander), Natarajan Chandrasekaran (Chairman, Tata Group), Robert Smith (Founder, Chairman & CEO, Vista Equity Partners), Margherita Della Valle (CEO, Vodafone Group), and Federico Sturzenegger (Argentine Minister of Deregulation and State Transformation).
Advisory council tackles global growth
Elumelu, a renowned Nigerian billionaire and business leader, will bring his expertise to the council, which aims to identify and address regulatory barriers to entrepreneurship. His appointment underscores his reputation as a leading voice in Africa’s private sector, advocating for entrepreneurship, economic empowerment, and sustainable development. Chandrasekaran, the chairman of Tata Sons Limited and a board member of the Reserve Bank of India (RBI), will also contribute his extensive experience in business strategy and economic affairs to the council’s efforts.
The council will meet approximately once every three months in structured discussions under Chatham House rules. For small businesses, this initiative could lead to improved access to funding, regulatory support, and economic policies that foster a more entrepreneurial-friendly environment worldwide. As the global economy faces challenges, the IMF’s Advisory Council on Entrepreneurship and Growth aims to provide insights and recommendations that will help drive innovation, boost productivity, and stimulate private sector-led growth across its member countries.
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