Jorge Giordani

Macroeconomic Stabilization Fund of Venezuela

Jorge Giordani

Jorge Giordani

Macroeconomic Stabilization Fund of Venezuela

Overview
Career Highlights

Government of Venezuela

RelSci Relationships

691

Number of Boards

4

Birthday

06/1940

Age

78

Relationships
RelSci Relationships are individuals Jorge Giordani likely has professional access to. A relationship does not necessarily indicate a personal connection.

President & Chief Executive Officer at Central Bank of Venezuela (Investment Management)

Relationship likelihood: Strong

Minister of Economy, Finances & Public Bank at Government of Venezuela

Relationship likelihood: Strong

Former President at Petróleos de Venezuela SA

Relationship likelihood: Strong

Director, Center for International Development at Harvard University - John F. Kennedy School of Government

Relationship likelihood: Strong

Director, Central Bank of Venezuela at Venezuelan National Development Fund

Relationship likelihood: Strong

Alternate Member, Board of Governors at International Finance Corp.

Relationship likelihood: Strong

President & Chief Executive Officer at CITGO Petroleum Corp.

Relationship likelihood: Strong

People's Minister, Petroleum & Mining at Government of Venezuela

Relationship likelihood: Strong

Minister of Planning at Government of Venezuela

Relationship likelihood: Strong

Executive Director at International Bank for Reconstruction and Development

Relationship likelihood: Strong

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Jorge Giordani
Macroeconomic Stabilization Fund of Venezuela
Education
Master's Degree in Development Planning
Ph.D

The University of Sussex is one of the UK universities founded in the 1960s and we now have world-leading research across all of its schools and departments. The University has over 14,000 students, of which over a third are postgraduates. It delivers teaching and learning programmes that are informed by current research, are attractive to students from all socioeconomic and cultural backgrounds, and which deliver skills for life.

Undergraduate Degree in Electronic Engineering

The University of Bologna, founded in 1088, was the first university and is the oldest in the world.

Career History
Current

Macroeconomic Stabilization Fund (MSF) is a Government of Venezuela fund which was created by the authority of the Presidency of the Republic in 1999 to hedge the fluctuation of income generated by crude oil and to stimulate non-commodity sectors of the economy in an effort to diversify and reduce reliance on oil.Based in Caracas, the fund receives revenues above a reference price based on the average oil price of the last five years. Oil revenues above the reference price are transferred to the fund. If oil prices drop below the reference price, the fund transfers revenues to the treasury to substitute the revenues it would otherwise have received if oil prices had been stable.The MSF is governed by the Board of the Central Bank of Venezuela (BCV) which ensures compliance, approves annual operating budgets, approves annual fund reports, issues internal regulations, approves expenditures, establishes policies and ensures that the fund functions as they desire. Because the leadership of the Central Bank is appointed by the president, the majority of the decision-making powers lie indirectly with the president.The main resources of the Fund consist of the revenue generated from Petróleos de Venezuela SA and any profits resulting from their crude oil operations. Contributions made by the National Executive may also be considered a resource for the Fund.

People's Minister for Planning & Development
Prior - 2014
Boards & Committees
External Director
Prior

Petróleos de Venezuela SA is a gas and oil company. It is engaged in exploring, extracting, transporting, manufacturing, refining, storing, and marketing crude oil and other hydrocarbons. The company was founded in 1975 and is headquartered in Caracas, Venezuela.

Director
Prior

BCV-IM is an active manager which aims to hedge the fluctuation of income generated by crude oil and to stimulate non-commodity sectors of the Venezuelan economy by diversifying and reducing reliance on oil through the Macroeconomic Stabilization Fund (MSF).The MSF receives revenues above a reference price based on the average oil price over the last five years and transfers those above the reference price into the fund. If oil prices drop below the reference price, they transfer revenues to the treasury to substitute those they would otherwise have received if oil prices had been stable. The main resources of the Fund consist of the revenue generated from Petróleos de Venezuela SA and any profits resulting from their crude oil operations.

Senior Director
Current

Central Bank of Venezuela (BCV) is the Venezuelan Government's central bank. Created by law in 1939, the Bank's fundamental objective is to achieve price stability and preserve the internal and external value of the currency as part of public policies designed to facilitate economic development in Venezuela.Based in Caracas, BCV formulates and carries out monetary policy, participates in designing and carrying out exchange rate policy, regulates currency, credit and interest rates, and administers international reserves.The Bank also manages the Macroeconomic Stabilization Fund, a Government of Venezuela fund which was created in 1999 to hedge the fluctuation of income generated by crude oil and to stimulate non-commodity sectors of the economy in an effort to diversify and reduce reliance on oil.

Member, Board of Governors
Prior

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries. We utilize and leverage our products and services—as well as products and services of other institutions in the World Bank Group—to provide development solutions customized to meet clients’ needs. We apply our financial resources, technical expertise, global experience, and innovative thinking to help our partners overcome financial, operational, and political challenges. Clients view IFC as a provider and mobilizer of scarce capital, knowledge, and long-term partnerships that can help address critical constraints in areas such as finance, infrastructure, employee skills, and the regulatory environment. IFC is also a leading mobilizer of third-party resources for its projects. Our willingness to engage in difficult environments and our leadership in crowding-in private finance enable us to extend our footprint and have a development impact well beyond our direct resources.