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" "Like you, I am new to this campus, having started as Columbia’s 20th president in July. And I say as someone who has experienced change once or twice in my life, beginnings are exciting, and hard, and everything in between. They introduce us to new people and ideas, challenge us to adapt to new situations, and open our eyes to new ways of thinking about the world and our place within it.
Nemat Talaat Shafik, Baroness Shafik, (Arabic: نعمت طلعت شفيق) (born 13 August 1962) commonly known as Minouche Shafik (Arabic: مينوش شفيق), is a British-American academic and economist. She served as the 20th president of Columbia University from July 2023 to August 2024. She previously served as president and vice chancellor of the London School of Economics from 2017 to 2023. From 2014 to 2017, Shafik served as deputy governor of the Bank of England and also previously as permanent secretary of the United Kingdom Department for International Development from 2008 to 2011. She has also served as a vice president at the World Bank and as deputy managing director of the International Monetary Fund.
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The growth of market-based finance and asset management is creating new sources of funding, adding welcome diversity to the financial system, particularly for emerging markets. And in some ways these flows are less risky – for example the average maturity of international securities issued by emerging markets is 10 years, reducing rollover risk and exposure to a sudden flight of capital.