Nigeria’s former finance minister, Dr Ngozi Okonjo-Iweala was named by the IMF on Friday as a member of its External Advisory Group.

She is the only one from Africa in the 12-member group that included Mr Kevin Rudd, former Prime Minister of Australia.

IMF’s Managing Director, Kristalina Georgieva, named the team on Friday in a statement.

She said the advisory group will provide perspectives from around the globe on key developments and policy issues, especially as the world faces the economic challenges of COVID-19.

“Even before the spread of COVID-19 and the dramatic health, economic, and financial disruptions it has brought, IMF members confronted a rapidly evolving world and complex policy issues.

“To serve our membership well in this context, we need top-notch input and expertise from the widest range of sources, inside and outside the Fund.

“Toward this end, I am proud that an exceptional and diverse group of eminent individuals with high-level policy, market, and private sector experience has agreed to serve on my External Advisory Group.

“Today we had a dynamic discussion to gain their insights, and to receive informal reactions to our ideas and approaches,” she added.

The advisory group is expected to meet a few times in a year with the IMF Managing Director, Deputy Managing Directors, and a sub-set of IMF department Directors.

Apart from Okonjo-Iweala, the 11 other members are:

*Mr Tharman Shanmugaratnam, Senior Minister of Singapore and Chairman of the Monetary Authority of Singapore

*Ms Kristin Forbes, Professor, Massachusetts Institute of Technology

*Lord Mark Malloch Brown, former United Nations Deputy Secretary-General

*Mr Feike Sijbesima, Honorary Chair, DSM, Former CEO, Royal DSM

*Mr Raghuram Rajan, Professor, University of Chicago

*Ms Ana Botín, Group Executive Chairman, Santander

**Ms Carmen Reinhart, Professor, Harvard University

*Mr Mohamed A. El-Erian, Chief Economic Adviser, Allianz

*Mr Scott Minerd, Chief Investment Officer, Guggenheim Investments