Australian government nominates executive director for IMF

Nigel Ray PSM, deputy secretary of the Department of Treasury’s macroeconomic group, has been nominated to represent Australia and a number of other countries at the International Monetary Fund (IMF).

Once the recommendation is accepted, Mr Ray would serve as executive director for a two-year term starting later this year, with his remuneration to be set by the IMF. He would be replacing alternate executive director of two years Christine Barron.

In addition to Australia, he would represent Kiribati, Korea, Marshall Islands, Micronesia, Mongolia, Nauru, New Zealand, Palau, Papua New Guinea, Samoa, Seychelles, Solomon Islands, Uzbekistan, Tuvalu and Vanuatu.

Treasurer Scott Morrison noted that the executive director position of the constituency rotates between Australia and the Republic of Korea under current arrangement.

Speaking on the nomination, the Treasurer said: “Mr Ray is eminently qualified for this role, having deep expertise in public policy and economic analysis.

“He is currently the deputy secretary, macroeconomic group in the Treasury, providing advice to Treasury ministers on a wide range of matters relating to the performance of the Australian economy.”

Mr Ray is also Australia’s G20 finance deputy at present, with his previous positions including deputy secretary, fiscal group at the Department of Treasury, and minister counsellor (economic) at the Australian Embassy in Washington DC.

There have been a number of key economic appointments announced in the last few months, with Reserve Bank of Australia governor Philip Lowe appointed as chair of the Committee on the Global Financial System.

Last month, the government announced that Mr Morrison’s former chief of staff Philip Gaetjens would be replacing John Fraser as Treasury secretary, and Liberal senator Mathias Cormann’s former chief of staff Simon Atkinson to the role of Treasury deputy secretary.

Michael Brennan, former staffer to Liberal senator Nick Minchin, was also announced as the replacement for Peter Harris as chair of the Productivity Commission.

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