IMF picks White House economic adviser Obstfeld to be chief economist

Economic Indicators Associated Press

The International Monetary Fund plans to name White House economic adviser Maurice Obstfeld as its chief economist.

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Obstfeld, who is on leave from the University of California, Berkeley, replaces the retiring Olivier Blanchard.

Obstfeld has written two influential textbooks on international economics, one with Nobel Prize winner and New York Times columnist Paul Krugman.

"He is known around the globe for his work on international economics and is considered one of the most influential macroeconomists in the world," IMF managing director Christine Lagarde said in a printed statement. Obstfeld will take the job on Sept. 8.

The fund has been deeply involved in efforts to resolve the Greek economic crisis, urging Greece's European creditors to offer the beleaguered country significant debt relief.