In late October, hedge fund advocate Antonio Borges was appointed the director of the IMF’s European department. Borges, a Portuguese national, holds a PhD in Economics from Stanford University. Between 1990 and 1993 he was vice governor of Banco de Portugal, where he took a leading role in the liberalisation of Portugal’s financial system. He became vice chairman and managing director of investment bank Goldman Sachs between 2000 and 2008, and currently chairs the Hedge Fund Standards Board in London, a hedge fund industry association that promotes self-regulation. Borges will succeed Marek Belka, who left the Fund earlier this year to become governor of the Central Bank of Poland. Borges is expected to take up his new position in late November.
World Bank & IMF in the news
Joint civil society briefing paper highlights concerns with the World Bank’s Evolution Roadmap, and provides a series of recommendations for a Roadmap that prioritises people, participation and the planet over profit and economic growth.