Suomen Pankki

Mika Pösö to join the Executive Board of the IMF

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Mika Pösö, M.Sc. and M.A. in Economics and Head of Department at the Bank of Finland (49) has been appointed as representative of the Nordic and Baltic countries to the Executive Board of the International Monetary Fund (IMF). His three-year term as head of the Nordic-Baltic constituency in Washington DC begins in January 2020.

Pösö has been Head of the General Secretariat Department at the Bank of Finland since 2012, prior to which he served in a range of expert and management posts in different departments, beginning in 1995. Over the years 2000–2004 he worked as an economist and senior economist in the Directorate Monetary Policy and the Directorate General Operations at the European Central Bank. Pösö has represented the Bank of Finland on several Eurosystem committees and working groups and has served as one of the Bank of Finland’s Governor’s accompanying persons at meetings of the ECB Governing Council.

The Nordic-Baltic constituency has a joint representative on the Executive Board of the IMF. The Executive Board is responsible for conducting the day-to-day business of the IMF. It is chaired by the IMF’s Managing Director and includes 24 Executive Directors appointed by the member countries or by constituencies comprising a number of countries. The Bank of Finland is responsible for Finland’s relations with the IMF.

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The Bank of Finland is the national monetary authority and central bank of Finland. At the same time, it is also a part of the Eurosystem, which is responsible for monetary policy and other central bank tasks in the euro area and administers use of the world’s second largest currency – the euro.

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