Rodrigo Valdes was appointed as director of the Western Hemisphere Department of the International Monetary Fund (IMF), according to what was announced by the organization’s executive director, Kristalina Georgieva.
Valdés, Minister of the Economy of Chile between 2015 and 2017 during the administration of Michelle Bachelet, will take office on May 1, replacing the Brazilian Ilan Goldfajn, who resigned from the IMF last year to run for president of the Inter-American Development Bank (IDB), a position he assumed at the end of 2022.
The announcement of the director of the IMF was known when the report in Washington is about to approval of a new reserve target for the current program with Argentina, within the framework of the fourth review of the agreement signed last year.
Relief for the Government: the IMF will make the reserve accumulation targets more flexible
“I am delighted to have Rodrigo join our team as the new Western Hemisphere Department Director. He is no stranger to the IMF, having served as Deputy Director in the Sustainable Health and Europe Departments from 2009 to 2012, where he is remembered as a caring steward and for his intellectual weight as he helped countries weather the aftermath of the global financial crisis,” said Georgieva.
Valdés, 56, is currently a professor of Economics at the School of Government of the Catholic University of Chile. Before this, He was Chile’s Minister of Economy from 2015 to 2017. He spent more than 16 years in the Chilean public sector serving in various leadership positions at both the Ministry of Finance and the Central Bank, where he was Director of Research and Chief Economist responsible for producing the Bank’s Monetary Policy Report and supervising the macroeconomic analysis.
Finance experience
In the statement, Georgieva also points out Valdés’ experience in the Chilean banking sector. At BTG Pactual he led the macroeconomic research team for Latin America, excluding Brazil, and was Chairman of the Board and Executive Committee of Banco Estado, the only state-owned bank in Chile.
He also worked at Barclays Capital in New York as Director and Chief Economist for Latin America.
“Rodrigo has impressive experience in the public and private sectors and is widely respected for his leadership and academic qualities. His stellar record as a policymaker, his excellent analytical and communication skills, and his deep knowledge of international finance and the IMF will be invaluable to our members at this critical time for the region and the global community,” Georgieva pondered.
Valdes has a Ph.D. in Economics from the Massachusetts Institute of Technology and a degree in Economics from the University of Chile.
LM / MCP
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