KARACHI: The federal government has officially appointed Dr. Murtaza Syed as Deputy Governor of the State Bank of Pakistan (SBP), in accordance with Section 10(4) of the SBP Act of 1956 (as amended), the central bank announced on Tuesday. Dr. Syed assumed his responsibilities at the SBP on January 27, 2020, bringing with him a wealth of experience in macroeconomic policy and research.
With over two decades of professional expertise, Syed is no stranger to the complexities of global economic systems. Prior to joining the SBP, he dedicated 16 years to the International Monetary Fund (IMF), where he held several key roles. Most recently, Dr. Syed served as an Advisor at the IMF’s Institute for Capacity Development, where he was responsible for planning and managing IMF training and technical assistance initiatives around the globe.
During his tenure at the IMF, Syed also worked as Deputy Division Chief in the Strategy, Policy, and Review Department. He was actively involved in IMF programs and surveillance missions for a wide array of economies including Colombia, Cyprus, the Euro Area, Japan, and Korea. From 2010 to 2014, Syed served as the IMF’s Deputy Resident Representative in China, and also led missions to Macao.
His academic credentials are equally impressive. Dr. Syed earned his PhD in Economics from Nuffield College, University of Oxford. He has published extensively on macroeconomic subjects such as monetary and fiscal policy, financial stability, investment trends, and socioeconomic issues like poverty and inequality. His academic contributions have been recognized internationally, and he has lectured at both Oxford and Cambridge.
Before his time at the IMF, Syed began his career in the late 1990s as a Senior Policy Analyst at the Human Development Center in Islamabad, founded by renowned economist Dr. Mahbub ul Haq. He later worked at the Institute for Fiscal Studies in London, contributing to policy research on business investment and employment.
With his appointment, the SBP aims to strengthen its policy framework and technical expertise. The presence of Syed at the SBP is expected to further reinforce the central bank’s role in shaping Pakistan’s economic future.