## Nigel Clarke, IMF Deputy Managing Director

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**Canonical URL:** [Nigel Clarke, IMF Deputy Managing Director](https://www.imf.org/en/about/senior-officials/bios/nigel-clarke)

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## Bibliographic details
- Published: November 22, 2024

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

### Prior Public Service and Policy Leadership
- 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.

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

### Private Sector and Early Career
- 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.

### Education and Scholarships
- 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.

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## References

- [IMF Senior Officials](https://www.imf.org/en/About/senior-officials)

_Source: https://www.imf.org/en/about/senior-officials/bios/nigel-clarke_