KARACHI: Dr Murtaza Syed, being the senior-most deputy governor, assumed the position of the State Bank of Pakistan’s acting governor in light of Section 10(2) of the SBP Act 1956 (amended).
The change in hierarchy came after the term of Dr Reza Baqir (former governor of SBP) ended on May 4 as the coalition government denied him an extension.
According to a notification, the central bank said Dr Syed has more than 20 years of experience in macroeconomic research and policymaking.
He worked with the International Monetary Fund (IMF) for 16 years before resigning to join SBP. At the IMF, he was involved in IMF programmes and surveillance of emerging markets and advanced economies, including the Euro Area, Japan, and Korea, as well as overseeing IMF training and technical assistance programs around the world.
The notification stated that he also served as the IMF’s Deputy Resident Representative in China between 2010 and 2014.
Dr Syed started his career in the late 1990s as a Senior Policy Analyst at the Islamabad-based Human Development Centre under former finance minister of Pakistan Dr Mahbub ul Haq.
Later, he worked for the Institute for Fiscal Studies (IFS), a London-based public policy think tank, where he conducted research projects on business investment and employment behaviour, as well as evaluating Latin American antipoverty programs.
Dr Syed has a PhD in economics from Nuffield College at the University of Oxford. He has published papers on a variety of macroeconomic issues, including fiscal and monetary policy, financial stability, economic crises, investment, demographics, poverty and inequality. He has also delivered lectures on public policy at Cambridge and Oxford Universities.
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