Sweden`s Minister of Finance Magdalena Andersson will be proposed for a critical post within the International Monetary Fund, IMF.
The minister will be proposed as the new chair of the IMF's highest advisory body, the IMFC, the International Monetary and Financial Committee.
Andersson will then be Europe's candidate for the top post, which is expected to be announced later this afternoon after today's meeting with EU finance ministers.
The committee includes selected finance ministers or central bank governors within the IMF.
The Committee has no formal decision-making power, but it is directly under the Fund's highest decision - makers and, with its advisory role, has significant influence over IMF policy, which is currently very much about the economic recovery from the corona pandemic.
The election of a new chairman will take place in December for appointment in January next year. The current chairman is from South Africa and it is now said to be "Europe's turn" to hold the chairmanship of the highest advisory body. The last time a European was in office was in 2007, when Britain's Finance Minister Gordon Brown was chairman.
Regardless of the election, she still retain her role as Minister of Finance in the Swedish government.