Maait named IMF executive director for Arab states and the Maldives

Maait named new IMF executive director for Arab states + Maldives: Former Finance Minister Mohamed Maait has succeeded Mahmoud Mohieldin as the IMF’s executive director representing Arab states and the Maldives, according to a cabinet statement.

We saw this coming: Earlier this month, an informed source told us that Maait was the top candidate for the job, with the news coming as Mohieldin wrapped up his second two-year term in the position.

What to expect from his tenure: “Our goal is establishing stronger, more diverse, and more flexible economic foundations capable of achieving sustainable growth at healthy rates to serve developing nations, particularly low- and middle-income countries,” Maait said following his appointment. He also noted the importance of private sector participation, saying that the private sector needed to be encouraged to inject investments “within a conducive, transparent, and competitively neutral business environment.”