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Pakistan

Dr Murtaza Syed: a short profile of the new acting SBP governor

  • Dr Reza Baqir's tenure as central bank chief ended today
Published May 4, 2022
Dr Murtaza Syed worked with the IMF for 16 years before resigning to join the SBP. Photo: Screengrab
Dr Murtaza Syed worked with the IMF for 16 years before resigning to join the SBP. Photo: Screengrab
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Dr Murtaza Syed took over on Wednesday as acting governor of the State Bank of Pakistan (SBP) following the end of Dr Reza Baqir's three-year tenure.

Dr Syed's new role was also confirmed by Finance Minister Miftah Ismail in a tweet where he said that Dr Baqir's term expired on May 4. Earlier, the SBP had said that the senior-most deputy governor would assume responsibility following the end of Dr Baqir's tenure.

"Therefore, Dr Murtaza Syed, an eminently qualified economist with rich IMF (International Monetary Fund) experience, will take over as Governor SBP. I wish him the best in his new role," Miftah said.

Dr Syed started his career in the late 1990s as a Senior Policy Analyst at the Islamabad-based Human Development Center under former finance minister of Pakistan, Dr Mahbub ul Haq, according to information available on the SBP website.

Later, he worked for the Institute for Fiscal Studies in London, UK's premier public policy think tank, where he conducted research projects on business investment and employment behavior, as well as evaluating two large Latin American antipoverty programmes.

He was appointed as Deputy Governor of the SBP and assumed his responsibilities on January 27, 2020.

Dr Syed has a PhD in economics from Nuffield College at the University of Oxford, and more than 20 years of experience in macroeconomic research and policymaking and worked with the IMF for 16 years before resigning to join the SBP.

He has also delivered lectures on public policy at Cambridge and Oxford Universities.

Dr Reza Baqir's tenure as SBP governor ends, Miftah wishes him 'the very best'

Most recently, he also served as advisor in the IMF’s Institute for Capacity Development, overseeing the planning and implementation of IMF training and technical assistance programs around the world.

He also served as the IMF’s Deputy Resident Representative in China between 2010 and 2014 and as IMF mission chief to Macao. He started his career at the IMF in the Fiscal Affairs Department before moving to the Asia and Pacific Department, where he worked on a variety of emerging markets and developing countries.

RECAP

Read Dr Murtaza Syed's article for Business Recorder published in December, 2021

Ensuring external stability

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