IMF Names White House Official as Chief Economist

Washington: The International Monetary Fund named Maurice Obstfeld, one of US President Barack Obama's top economic advisers, as its new chief economist on Monday.

Mr Obstfeld, a professor at the University of California, Berkeley, will replace outgoing IMF economist Olivier Blanchard.

"His outstanding academic credentials and extensive international experience make him exceptionally well-placed to provide intellectual leadership to the IMF at this important juncture," IMF managing director Christine Lagarde said in a statement.

"He is known around the globe for his work on international economics and is considered one of the most influential macro-economists in the world."

Mr Obstfeld, 63, has been on leave from Berkeley since mid-2014 to serve on the White House Council of Economic Advisers.

He will start at the Washington-based IMF on September 8, where a key task will be helping with the fund's huge, troubled rescue programs for Greece and Ukraine, and more broadly, keeping a close eye on the slowdown in the global economy.