EU nominates Swedish finance minister Magdalena Andersson to head IMFC

BERLIN (Reuters) - European Union member states have agreed to nominate Swedish Finance Minister Magdalena Andersson to head the International Monetary and Financial Committee (IMFC), German Finance Minister Olaf Scholz said on Tuesday.

Scholz announced the decision after a virtual meeting of EU finance ministers at which details were also agreed on how to pay out money from the bloc's recovery fund.

The IMFC is the steering body of the International Monetary Fund, which is based in Washington.

(Reporting by Michael Nienaber; Editing by Paul Carrel)