Rodrigo Valdés assumes role as head of IMF's Fiscal Affairs Department, making him the first Latin American to hold this position in six decades.
Rodrigo Valdés, a renowned economist from Chile, has been appointed as the new Director of the International Monetary Fund's (IMF) Fiscal Affairs Department (FAD). This historic move marks the first time an Emerging Market economist will lead the department in its 60-year history. The appointment takes effect from October 27, 2025.
Valdés, who holds a Ph.D. in economics from the Massachusetts Institute of Technology and a bachelor's degree in economics from the University of Chile, has been with the IMF since 2023, serving as the Director of the Western Hemisphere Department (WHD). His tenure in this role has been marked by providing tailored and rigorous analysis for the Fund's policy advice in a diverse region, including overseeing Fund-supported programs for numerous countries.
Valdés' extensive experience in public policies, both in his current role and in government and central banking, will undoubtedly benefit his new position. Prior to joining the IMF, he served as a Deputy Director in both the Western Hemisphere and European Departments from 2009 to 2012, supporting countries during the aftermath of the global financial crisis.
In his previous role at the WHD, Valdés was involved in discussions about economic stabilisation in countries such as Argentina, reflecting his deep understanding of the region's economic challenges.
Kristalina Georgieva, the Managing Director of the IMF, has expressed her confidence in Valdés, praising his sharp analysis and dedication to his staff. Georgieva believes that Valdés' intellectual capacity, deep knowledge of the IMF, and excellent communication and people skills will greatly benefit the department, the IMF, and its members.
Valdés is taking over from Vitor Gaspar, who will be stepping down from the position in October. However, no information regarding Valdés' involvement in negotiations with Argentina, from which he was previously removed, was mentioned in the recent announcements.
The IMF is currently facing continued uncertainty in the global economy, and Valdés' appointment comes at a critical time. Under his leadership, the FAD will continue to provide rigorous and personalised analysis to guide the IMF's advice on public policies, ensuring that the organisation remains a key player in global economic stability.
For the first time in 60 years, the IMF will be headed by a Latin American, a move that is expected to bring fresh perspectives and a deeper understanding of the challenges faced by emerging economies.
In his new role as Director of the International Monetary Fund's (IMF) Fiscal Affairs Department (FAD), Rodrigo Valdés will leverage his expertise in finance and business to offer tailored policy advice for various states. His experience in economics, politics, and general-news discussions, especially in the Western Hemisphere, will be instrumental in navigating complex economic challenges faced by emerging markets.
