Dr Reza Baqir has been appointed new governor of the State Bank of Pakistan, according to a notification issued by the finance division.His appointment was approved by President Arif Alvi. He will remain the head of the SBP for the next three years. His three years will start from the date he assumes office. Baqir is currently serving as the IMF’s representative for Egypt.
He has also served as the Fund’s mission chief for Bulgaria and Romania and chief of the IMF’s Debt Policy Division for four years. He has worked at the IMF for over 16 years. He has also worked at the World Bank, MIT and Union Bank of Switzerland. The federal government removed Governor State Bank Tariq Bajwa . However, the decision was executed following consultation with Adviser to the Prime Minister on Finance Hafeez Sheikh.
Dr.Reza Baqir is a Pakistani economist who serves as the 20th and current Governor of the State Bank of Pakistan. Baqir was serving in the IMF as senior resident representative to Egypt (former). There have been admirers and critics of the IMF’s policies implemented in Egypt. Some say these have brought hyperinflation, slowed down the economic growth rate and increased unemployment. Others argue that the IMF policies brought stability in Egypt’s economy
He holds degrees from the Harvard University and the University of California, Berkeley.
Dr.Reza Baqir has assumed the charge of Governor State Bank of Pakistan after President of Pakistan appointed him as Governor State Bank of Pakistan for a period of three years in pursuance of Section 10(3) of the State Bank of Pakistan Act 1956.
Dr.Reza Baqir has eighteen years of experience with the IMF and two years with the world Bank. He was the Head of the IMF’s Office in Egypt and Senior Resident Representative since August 2017. He has also held positions as IMF Mission Chief for Romania and Bulgaria, Division Chief of the IMF’s Debt Policy Division, Head of the IMF delegation to the Paris Club, Deputy Division Chief of the IMF’s Emerging Markets Division, IMF Resident Representative to the Philippines, and numerous other positions.
Baqir’s research has been published in top journals of the economics profession, including the Journal of Political Economy and the Quarterly Journal of Economics. Baqir holds a Ph.D in Economics from the University of California at Berkeley and an A.B. (Magna cum Laude) in Economics from Harvard University.