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June 23, 2021

International Monetary Fund Europe director has resigned

The head for Europe at International Monetary Fund (IMF) has announced on Wednesday his resignation, in the efforts to tackle the continent’s debt crisis, BBC informs. Antonio Borges said that personal reasons were behind his decision to quit his job. He had been director of the IMF’s European Department for only one year. Earlier in the year, Mr Borges was forced to retract comments in which he suggested the Fund might help Italy and Spain by buying up their debts.

“His response to the eurozone crisis was controversial – and, to some, destabilising,” says BBC Washington correspondent, Steve Kingstone, who adds that the resignation did not come as a surprise.

The Fund is part of the “troika” of international organisations supervising the bailouts of Greece, Portugal and the Irish Republic, the others being the European Commission and the European Central Bank.

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