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Egypt's ex-finance chief quits IMF advisory role

world Updated: Feb 05, 2011 09:23 IST

Egypt's former finance minister Youssef Boutros-Ghali, fired by President Hosni Mubarak in a cabinet shakeup, resigned on Friday as chairman of the International Monetary Fund's advisory board.

The International Monetary and Financial Committee is comprised of 24 finance ministers and central bank governors and advises IMF leadership on policy decisions.

Boutros-Ghali was forced to give up his seat after being replaced last week by Mubarak, who had hoped the personnel changes would end an unprecedented popular uprising against his regime. Protests continued on Friday in Egypt.

IMF Managing Director Dominique Strauss-Kahn said in a statement that under Boutros-Ghali's chairmanship the board "played an instrumental role in providing advice and guidance to help secure policy coordination for a global recovery from the financial crisis."

Boutros-Ghali began his chairmanship in October 2008.