Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Search of Air Algerie crash site continues

Read more

MEDIAWATCH

Sarkozy, Hollande and the scooter wars

Read more

MEDIAWATCH

Confusion online over Air Algérie flight

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014

Read more

REPORTERS

Halal tourism on the rise

Read more

ENCORE!

Tunisia's Carthage International Festival turns 50

Read more

FRANCE IN FOCUS

WWI Centenary: the battle for Verdun

Read more

THE BUSINESS INTERVIEW

When big companies want to do good

Read more

  • French PM calls for calm ahead of banned Gaza protest

    Read more

  • Limited 12-hour humanitarian truce takes effect in Gaza

    Read more

  • US evacuates embassy in Libya amid militia clashes

    Read more

  • Kerry in Paris for new round of Gaza ceasefire talks

    Read more

  • Video: 'Lack of security' at MH17 crash site, FRANCE 24 reports

    Read more

  • In pictures: Devastation, debris at Air Algérie crash site

    Read more

  • Washington Post reporter and his wife arrested in Iran

    Read more

  • French families grieve for Algerian plane crash victims

    Read more

  • Lithuania’s Navardauskas wins 19th stage of Tour de France

    Read more

  • LA Times wipes France off the map in air crash infographic

    Read more

  • Fans electrify the mood as Tour de France crosses the Pyrenees

    Read more

  • French lawyer files complaint against Israel at ICC

    Read more

  • Protest against Gaza offensive turns deadly in West Bank

    Read more

  • Halal tourism on the rise

    Read more

  • Ukraine names acting PM after Yatseniuk's shock resignation

    Read more

  • BNP to pay $80 million for defrauding Dept of Agriculture

    Read more

  • Pope meets Christian woman sentenced to death in Sudan

    Read more

Europe

Chief of IMF's key Europe department stands down

Text by News Wires

Latest update : 2011-11-16

The head of the International Monetary Fund’s European unit, Antonio Borges (pictured), submitted his resignation Wednesday. His department oversees financial assistance to bailed-out eurozone members Greece, Ireland and Portugal.

AFP – The International Monetary Fund's crucial head of its European Department, which oversees its giant bailouts of Greece, Portugal and Ireland, has resigned, the Fund announced Wednesday.

Antonio Borges, who led the unit only since November 2010, submitted his resignation "for personal reasons" and "will relinquish his responsibilities immediately," the IMF said in a statement.

British-Iranian Reza Moghadam, currently IMF director of the Strategy, Policy, and Review Department, will replace Borges in the crucial job overseeing the Fund's largest emergency lending programs, effective November 17.

"Antonio Borges has led the European Department during an extremely difficult period for the region's eurozone members. His vast public and private sector, and academic experience, combined with his ability to build strong relationships with member country authorities, have been of great value in responding to the crisis," IMF managing director Christine Lagarde said in a statement.

"I look forward to Reza Moghadam applying to our work in Europe the same strategic vision, drive, and thoughtfulness that he has demonstrated in his previous position."

Moghadam will be replaced, also effective November 17, by Siddharth Tiwari, currently IMF secretary.

 

Date created : 2011-11-16

  • PORTUGAL

    EU and IMF endorse Portugal’s next aid payment

    Read more

  • GLOBAL ECONOMY

    IMF’s Lagarde warns of decade lost to financial crisis

    Read more

  • ECONOMY

    IMF urges EU to 'get its act together' on debt

    Read more

COMMENT(S)