Dr Raza Baqir has been appointed new governor of the State Bank of Pakistan, according to a notification issued by the finance division.
His appointment was approved by President Arif Alvi. He will remain the head of the SBP for the next three years. His three years will start from the date he assumes office.
Baqir is currently serving as the IMF’s representative for Egypt.
He has also served as the Fund’s mission chief for Bulgaria and Romania and chief of the IMF’s Debt Policy Division for four years.
He has worked at the IMF for over 16 years. He has also worked at the World Bank, MIT and Union Bank of Switzerland.
The federal government removed Governor State Bank Tariq Bajwa and Federal Board of Revenue Chairperson Jahanzeb Khan from their offices on Friday.
Both the bosses resigned from their offices after they were told to forward their resignations to the prime minister’s office.
The decision to remove the two senior officers had already been taken while former finance minister Asad Umar was still in office.
However, the decision was executed following consultation with Adviser to the Prime Minister on Finance Hafeez Sheikh.