Daniele Franco

Daniele Franco
Daniele Franco
Minister of Economy and Finance
	In office; 13 February 2021 – 22 October 2022
Prime Minister	Mario Draghi
Preceded by	Roberto Gualtieri
Succeeded by	Giancarlo Giorgetti
Director-General of the Bank of Italy
	In office; 1 January 2020 – 13 February 2021
Governor	Ignazio Visco
Preceded by	Fabio Panetta
Succeeded by	Luigi Federico Signorini
Personal details
Born	7 June 1953 (age 71); Trichiana, Italy
Political party	Independent
Education	University of Padua; University of York

Daniele Franco (born 7 June 1953) is an Italian economist, central banker and civil servant who served as Minister of Economy and Finance in the cabinet of Prime Minister Mario Draghi from 2021 to 2022.^[1]^[2] From 2020 until 2021, he served as director-general of the Bank of Italy.

Early life and education

Franco graduated from the University of Padua in 1977 with a degree in political science. In 1978, he obtained a master's degree in business organisation from the University Consortium of Business Organization of Padua. In 1979 he obtained a master's degree in economics from the University of York, Great Britain

Career

In 1979, Franco joined the Bank of Italy.^[1]

From 1994 to 1997, Franco was economic advisor to the Directorate-General for Economic and Financial Affairs of the European Commission. From 1997 to 2007, he again worked at the Bank of Italy, where he was director of the public finance section of the Research Department. From 1999 to 2007 he chaired the Public Finance Working Group of the European System of Central Banks.^[1]

From 2007 to 2011 he was Head of the Economic and Financial Structure Research Department and from 2011 to 2013 he was Central Director of the Economic Research and International Relations Area. In this capacity, he represents the Bank in committees and working groups in international bodies and is a member of working groups at the Ministry of Finance, the Ministry of the Treasury, the Presidency of the Council and Italian National Institute of Statistics.

From 17 May 2013 to 14 May 2019, Franco served as president of the State General Accounting Office. From 20 May to 31 December 2019 he was Deputy Director-General of the Bank of Italy, after which point he became Director-General.^[3]^[4]

On 13 February 2021, Franco was appointed Minister of Finance and Economy in the Draghi cabinet.^[3] In this capacity, he chaired the meetings of G20 Ministers of Finance when Italy held the group's presidency in 2021.^[5]

In 2023, the government of Prime Minister Giorgia Meloni nominated Franco as Italy’s candidate to succeed Werner Hoyer as president of the European Investment Bank.^[6]

Other activities

European Union institutions

European Investment Bank (EIB), Ex-Officio Member of the Board of Governors (2021–2022)^[7]
European Stability Mechanism (ESM), Member of the Board of Governors (2021–2022)^[8]

International organizations

African Development Bank (AfDB), Ex-Officio Member of the Board of Governors (2021–2022)
Asian Infrastructure Investment Bank (AIIB), Ex-Officio Member of the Board of Governors (2021–2022)^[9]
European Bank for Reconstruction and Development (EBRD), Ex-Officio Member of the Board of Governors (2021–2022)^[10]
Inter-American Development Bank (IDB), Ex-Officio Member of the Board of Governors (2021–2022)^[11]
International Monetary Fund (IMF), Ex-Officio Member of the Board of Governors (2021–2022)^[12]

References

^ ^a ^b ^c "Factbox: Technocrat ministers in Draghi's new Italian government". Reuters. 13 February 2021.
^ "Mario Draghi's new government to be sworn in on Saturday". The Guardian. 13 February 2021.
^ ^a ^b "Daniele Franco, who is the Minister of Economy of the Draghi government". Italy 24 News. 12 February 2021.
^ "Who is Daniele Franco, new general manager of Bankitalia". Money.it. 20 December 2019.
^ Paul Hannon and Yuka Hayashi (April 7, 2021), G-20 to Seek Agreement on Global Minimum Tax Rate by Mid-2021 Wall Street Journal.
^ Jorge Valero, Alessandra Migliaccio and Piotr Skolimowski (16 Juni 2023), EU Horse-Trading Over Top Jobs Begins as Italy Makes EIB Bid Bloomberg News.
^ Board of Governors European Investment Bank (EIB).
^ Board of Governors European Stability Mechanism.
^ Board of Governors Asian Infrastructure Investment Bank (AIIB).
^ Board of Governors European Bank for Reconstruction and Development (EBRD).
^ Board of Governors Archived 2022-10-20 at the Wayback Machine Inter-American Development Bank (IDB).
^ Board of Governors International Monetary Fund (IMF).

Government offices
Preceded by Fabio Panetta	Director-General of the Bank of Italy 2020–2021	Succeeded by Luigi Federico Signorini
Political offices
Preceded by Roberto Gualtieri	Minister of Economy and Finance 2021–2022	Succeeded by Giancarlo Giorgetti