Dr. Murtaza Syed Takes Charge as Acting Governor SBP
Dr. Murtaza Syed, the senior-most Deputy Governor and a former official of the International Monetary Fund (IMF), is the new Acting Governor of the State Bank of Pakistan (SBP), with effect from 5 May 2022.
According to the notification issued in this regard, Dr. Syed has taken up the post in the light of Section 10(2) of the State Bank of Pakistan (SBP) Act 1956 (amended), and in doing so, has replaced Dr. Reza Baqir whose term ended on 4 May.
Prior to this, Dr. Syed was appointed as the Deputy Governor of the SBP by the federal government on 27 January 2020 for three years.
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He has a Ph.D. in Economics from Nuffield College at the University of Oxford and has more than 20 years of experience in macroeconomic research and policymaking in which he worked at the IMF for 16 years. He was involved in IMF programs and the surveillance of emerging markets and advanced economies, including the Euro Area, Japan, and Korea. Additionally, Dr. Syed oversaw IMF training and technical assistance programs around the world, and had served as the IMF’s Deputy Resident Representative in China between 2010 and 2014.
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Dr. Syed began his career in the late 1990s as a Senior Policy Analyst at the Islamabad-based Human Development Center under the former Minister for Finance, Dr. Mahbub ul Haq. Later on, he worked for the London-based public policy think tank, Institute for Fiscal Studies (IFS), where he conducted research projects on business investment and employment behavior, and evaluated Latin American anti-poverty programs.
Besides teaching public policy at the universities of Cambridge and Oxford, Dr. Syed has also published papers on a variety of macroeconomic issues, including fiscal and monetary policy, financial stability, economic crises, investment, demographics, poverty, and inequality.