New IMF executive board begins two-year term

The executive board of the International Monetary Fund (IMF) starts a two-year term today following an election for the board’s 19 elected seats.

The 24-member executive board functions in continuous session and is responsible for conducting the business of the IMF, according to a release.

It discusses everything from the IMF staff's annual health checks of member countries' economies to economic policy issues relevant to the global economy.

IMF executive director Thomas A. Hockin, first elected to the post in 2009, will continue to represent the constituency of Canada, Ireland and some Caribbean countries including Jamaica.

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