A former economic adviser to US president Barack Obama and advocate of fiscal integration in the eurozone has been appointed as the International Monetary Fund’s chief economist.
Maurice Obstfeld will replace Olivier Blanchard in early September after spending a year advising Mr Obama. A former head of the economics department at the University of California, Berkeley, Mr Obstfeld is known for his views on the need for more eurozone integration, the dangers of imbalances in trade and investment, and the importance of strengthening global economic governance.
Such convictions are bound to shape the IMF’s thinking as it reassesses its role in the Greek sovereign debt crisis and stands ready to provide assistance to emerging markets as the US Federal Reserve edges closer to raising interest rates. “He is known around the globe for his work on international economics and is considered one of the most influential macroeconomists in the world,” said Christine Lagarde, the fund’s chief.