IMF: World Bank to Benefit From New Chief Financial Officer's Experience

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New Chief Financial Officer for the World Bank Group Joaquim Levy has the necessary experience to assume the office, Executive Director of the Board of the International Monetary Fund for 11 countries Otaviano Canuto told Sputnik on Wednesday.

MOSCOW (Sputnik) — On Monday, World Bank Group President Jim Yong Kim announced the appointment of Levy as the group's chief financial officer. Levy is expected to take up the position on February 1.

"I believe he will bring a mixture of experience in the fields of finance, markets and vision of economic governance of the whole country and deep knowledge of the multilateral system [to the World Bank Group]," Canuto said.

He added that such experience was very rare but it was vital for success in this role in the World Bank.

Levy is a former Brazilian finance minister, and he has previously held positions in the IMF, the European Central Bank and the Inter-American Development Bank.

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