Press Release No. 21/260

IMF Managing Director Appoints Ilan Goldfajn as Director of the Western Hemisphere Department

September 13, 2021

Washington DC: Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), announced today her intention to appoint Mr. Ilan Goldfajn as Director of the Fund’s Western Hemisphere Department (WHD). Mr. Goldfajn will assume his role as the head of the IMF’s department in charge of relations with member countries in the Americas on January 3, 2022. He will succeed Alejandro Werner, whose retirement from the Fund was previously announced.

“I am delighted that Ilan will join our team as the new WHD Director. He has an impressive experience in the public and private sectors and is highly respected as an academic. His proven track record as a policymaker, communicator, as well as his depth of knowledge as an international finance executive and his familiarity with the Fund’s work will be invaluable in helping our member countries in the region,” Ms. Georgieva stated.

Mr. Goldfajn was Governor of the Banco Central do Brasil (BCB) from May 2016 until February 2019. During his tenure at the BCB, he oversaw implementation of significant regulatory changes that opened the door to new players in the financial services industry, spurred innovation and digitalization, and fostered the growth of fintech companies that has had a positive impact on Brazil’s financial sector. In 2017, he was elected Central Banker of the Year by The Banker magazine; and the year after, he was named Best Central Banker by Global Finance magazine.

Mr. Goldfajn’s experience in the private sector include positions as Chief Economist and Partner of Itaú Unibanco, founding Partner of Ciano Investimentos, and Partner and Economist at Gávea Investimentos—three leading financial institutions in Brazil. More recently he was the Chairman of Credit Suisse Brazil’s Advisory Board. He has also worked as a consultant to a number of global financial organizations including the World Bank, the United Nations, and the IMF.

He has taught economics at various universities in Brazil and the United States. He has worked as an editor of various publications, as well as written and published numerous articles and books. Mr. Goldfajn holds a PhD in Economics from the Massachusetts Institute of Technology (MIT), a master’s degree in Economics from the Pontifíca Universidade Católica and a bachelor’s degree in Economics from the Universidade Federal, both in Rio de Janeiro, Brazil.

Mr. Goldfajn, a dual national of Brazil and Israel, is also very well known to many at the IMF, having worked as an economist at the Fund from 1996 to 1999. “I am very pleased that Ilan is returning to us at this crucial time, and that we will be able to benefit from his exceptional expertise as we continue to help the countries in the region build more resilient and inclusive economies,” Ms. Georgieva concluded.