Pierre Yared Eyed for Key IMF Role Amid Global Economic Challenges

Pierre Yared, a prominent White House economic adviser, is being considered for the influential No. 2 position at the International Monetary Fund (IMF), as per sources familiar with the scenario. Yared's possible appointment follows the announcement of IMF's First Deputy Managing Director Gita Gopinath's departure.

The IMF's Managing Director, Kristalina Georgieva, is evaluating potential successors for Gopinath's role, expecting to make a decision before next month's IMF and World Bank meetings in Washington. Yared is currently vice chairman of the White House Council of Economic Advisers and an accomplished former academic from Columbia University.

Yared's candidacy is highlighted amid major shifts in U.S. economic positions, with substantial IMF influence retained by the U.S. Treasury Secretary Scott Bessent has noted three strong contenders for the role, showing personal favor towards Yared among the list.

(With inputs from agencies.)