Mexican official tapped to lead IMF governing board to prioritize aid to poorer countries

Photo: Reuters

MEXICO CITY, Oct 15 (Reuters) - Mexico's Finance Minister Arturo Herrera would prioritize poorer countries hit by the coronavirus pandemic in his expected role next year as president of the board of governors for the IMF and the World Bank, his office said on Thursday.

The World Bank has approved the appointment of the 53-year-old Herrera, while the International Monetary Fund (IMF) is scheduled to conclude the process on Nov. 4.

Herrera will press for the IMF and the World Bank to redouble their efforts to help the world economy recover from the pandemic, especially in low and middle-income countries hardest-hit by the crisis, the finance ministry said in a statement.

He would also work to strengthen the international financial system, the ministry added.

Herrera on Twitter said he was "very honored" by his nomination for the role. The board will meet in Washington next spring and in Marrakech next October.

Herrera's presidency would mark the second time a Mexican official leads the board, which represents 189 countries.