WASHINGTON: The Spanish government's First Vice President Nadia Calvino was elected chair of the group of finance ministers and central bankers that advises the IMF's board, the organization announced Thursday.

Calvino, who is also her country's economy minister, replaces Swedish Prime Minister Magdalena Andersson as head of the International Monetary and Financial Committee (IMFC), and will remain in office for two years, beginning January 3.

The IMFC consists of 24 members who are central bankers and governors, finance ministers or officials of equivalent rank, who are chosen from among International Monetary Fund member countries.

Calvino has been Spain's first vice president since July and economy minister since 2018.

She previously held several positions at the European Commission, including director general in charge of the budget from 2014 to 2018.

The IMFC is the main advisory body to the IMF's board of governors and deliberates major policy issues.