Abebe Aemro Selassie, director of the IMF’s Africa department, is set to retire from the role he has held since 2016.
The Ethiopian economist worked with African governments over a tumultuous decade dominated by the COVID-19 pandemic that was followed by a period of high inflation, supply chain shocks, and global trade upheavals.
Abebe has been a long-time advocate for sub-Saharan African economies to deepen their capital markets and expand tax collection. As access to international financing has dwindled in recent years, he has said increased public debt from domestic banks in local currency is a “positive sign” but also cautioned against excessive borrowing at higher interest rates.
His departure in May will end a 32-year career at the Fund in which he held a series of senior roles after previously working as an economist for Ethiopia’s government. In a 2023 essay, Abebe, a graduate of the London School of Economics, urged the global community to help African nations overcome the post-COVID funding squeeze because “this will be the African Century” due to demographic trends.