## IMF Managing Director Kristalina Georgieva Announces Intention to Appoint Isabel Schnabel as Financial Counsellor and Director of the Monetary and Capital Markets Department

_IMF News, September 24, 2026_

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**Canonical URL:** [IMF Managing Director Kristalina Georgieva Announces Intention to Appoint Isabel Schnabel as Financial Counsellor and Director of the Monetary and Capital Markets Department](https://www.imf.org/en/news/articles/2026/09/24/pr26303-imf-managing-director)

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## Bibliographic details
- Published: September 24, 2026

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### Appointment details
- Managing Director Kristalina Georgieva announced her intention to appoint Ms. Isabel Schnabel as the Fund’s next Financial Counsellor and Director of the Monetary and Capital Markets Department (MCM).
- Effective date: January 4, 2027.
- Announcement date: September 24, 2026.
- Press Release No. 26/303.
- The appointment is intended to support the Fund’s work with its 191 members.

### Professional background and qualifications
- Current role: Member of the Executive Board of the European Central Bank (ECB).
  - Responsible for market operations, research, and statistics.
  - Member of the ECB’s Governing Council, which sets monetary policy for the euro area.
- ECB contributions since joining in 2020:
  - Played a central role in the institution’s response to the pandemic, the 2022 energy price shock and cost of living crisis, and periods of financial market stress.
  - Led development of the ECB’s new monetary policy implementation framework.
  - Championed innovation, including the adoption of artificial intelligence and the modernization of supervisory and statistical reporting.
- Previous roles:
  - Member of the German Council of Economic Experts.
  - Vice Chair of the Advisory Scientific Committee of the European Systemic Risk Board.
  - Chair of the Advisory Board of BaFin, Germany’s Federal Financial Supervisory Authority.
  - Roles provided deep expertise in macroprudential policy, banking supervision, capital markets, and financial regulation.
- Academic credentials:
  - Professor of Financial Economics at the University of Bonn.
  - Earned a doctorate in economics, with highest distinction, from the University of Mannheim.
  - Research areas: banking crises, systemic risk, financial regulation, international finance, and economic history, with publications in leading academic journals.

### Rationale and expected contributions
- Managing Director Georgieva described Ms. Schnabel as:
  - A highly distinguished economist and policymaker.
  - A leading voice on monetary policy, financial markets, and financial stability.
  - Demonstrating intellectual leadership in research and practical policymaking.
  - Known for collaborative leadership, commitment to developing talent, and ability to build consensus around complex policy issues.
- Anticipated value to the Fund:
  - Deep expertise at the intersection of central banking, capital markets, and financial stability.
  - Support for guiding members through a rapidly changing global financial landscape.
  - Strengthening the Fund’s work to promote global monetary and financial stability through intellectual leadership, policy experience, and commitment to international cooperation.

### Media and contact information
- IMF Communications Department — MEDIA RELATIONS.
- PRESS OFFICER: Angham Al Shami.
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- IMF Twitter: @IMFSpokesperson

*Source: Press Release No. 26/303, September 24, 2026.*

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## References

- [Germany and the IMF](http://www.imf.org/external/country/DEU/index.htm)
- [IMF-World Bank Debt Sustainability Framework for Low-Income Countries -- A Factsheet](https://www.imf.org/en/about/factsheets/sheets/2023/imf-world-bank-debt-sustainability-framework-for-low-income-countries)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2026/09/24/pr26303-imf-managing-director_