Wednesday, March 19, 2014

Egyptian-born Woman Quickly Becomes "Most Powerful Woman in the City of ‪‎London‬"

Nemat Shafik, 51, has been appointed deputy governor of the Bank of England, turning her into "the most powerful woman in London," according to The Guardian.

The Guardian reports that Nemat Shafik had been the deputy managing director of the International Monetary Fund for nearly three years. She was also the youngest ever vice president of the World Bank.

Nemat, who is today a US and British national, was born in Alexandria, but her family left in the 1960s "after her father lost everything during the country's nationalisation," she explained to The Guardian.

It was her experience during this time that shaped her future. "I guess the particular angle that I have on development comes from the fact that my family was nationalised, and when that occurred, I left as a child and was raised in the US and didn't go back to Egypt until I was a teenager. But that experience of nationalisation and struggling with the role of the state trying to take resources, to redistribute them, but at the same time not being very successful at it was a part of my childhood," she said.

Nemat finished high school in ‪Egypt‬ and then returned to the US where she studied economics and politics at the University of Massachusetts-Amherst before undertaking a MSc in economics at London School of Economics and a doctorate from St Antony's College, Oxford.

— Sean Farrell, The Guardian via Egyptian Streets

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