Nigel Clarke, IMF Deputy Managing Director

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Mr. Clarke assumed the role of Deputy Managing Director at the IMF on October 31, 2024.
Last Updated: November 22, 2024.

Served as Jamaica’s Minister of Finance and the Public Service, and a Member of Parliament, since March 2018.
Served as Ambassador of Economic Affairs from 2016.
Key policy actions and reforms spearheaded:
- Central bank independence.
- Creation of an independent fiscal commission.
- Tax policy reforms.
- Public body governance reforms.
- Public procurement reforms.
- Public sector compensation reforms.
- Public investment management reforms.
Led Jamaica’s economic policy response to the COVID-19 pandemic with innovative and well-targeted policy support.
Oversaw privatizations and public-private partnerships of major infrastructure assets.
Implemented a multi-layered disaster risk financing model.
Under his stewardship, Jamaica became the first small country to independently sponsor a catastrophe bond, with World Bank assistance.
Financial market milestones for Jamaica during his tenure:
- 2023: Jamaica successfully completed its first ever international issue of a local currency denominated bond.
- 2024: Jamaica successfully executed its first ever securitization transaction in international capital markets.

2022: Elected Chairman of the Board of Governors of the Inter-American Development Bank and the Inter-American Investment Corporation.

Prior to public service, served as Vice Chairman and Chief Financial Officer of the Musson Group, a regional conglomerate.
Began career as an Equity Derivatives Trader at Goldman Sachs in London.

PhD in Numerical Analysis from Oxford University; attended Oxford as a Rhodes Scholar.
Master of Science Degree in Applied Statistics from Oxford University; attended Oxford as a Commonwealth Scholar.
Bachelor of Science Degree in Mathematics and Computer Science from the University of the West Indies; attended as a Jamaica Independence Scholar.