Fund confirms Blanchard appointment

Amidst the departure of several high-ranking staff, the International Monetary Fund has announced the appointment of Olivier Blanchard, the highly respected professor from the Massachusetts Institute of Technology (MIT), as its new chief economist and director of research.

Blanchard's appointment is a major coup for the Fund, whose position as the leading organisation in the international financial system has been questioned by some.

Filling the chief economist position, once regarded as one of