Washington, DC: Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), announced today her intention to appoint Mr. Rodrigo Valdés as Director of the Fiscal Affairs Department (FAD). Mr. Valdés will succeed Vitor Gaspar , starting on October 27, 2025.
"I am pleased to announce that Rodrigo Valdés will assume the role of Director of the Fiscal Affairs Department," said Ms. Georgieva. "I am also delighted that this appointment represents the first time in FAD's 60-year history that an Emerging Market economist will lead the department."
A Chilean national, Mr. Valdés brings a wealth of policy experience to the position, both from his position at the IMF and as a policy practitioner in government and central banking. Since 2023, he led the IMF's Western Hemisphere Department (WHD) ensuring that the Fund's policy advice to a diverse region, including the world's largest economy and small island states, was underpinned by tailored and rigorous analysis. He also worked closely with country authorities to develop Fund-supported programs to a large number of countries in the region. Previously, as a Deputy Director in both WHD and the European Department (EUR) from 2009-2012, he supported countries in navigating the aftermath of the global financial crisis.
As a public sector policymaker, Mr. Valdés served as Minister of Finance of Chile from 2015-2017. He was a member of the team that implemented the structural fiscal rule in Chile in 2000-2001. At the Central Bank of Chile, he held several key leadership positions, including Director of Research and Chief Economist, where he oversaw the Bank's Monetary Policy Report and macroeconomic analysis.
Mr. Valdés has also had outstanding careers in banking, private sector development, and academia. He held senior positions at BTG Pactual, Banco Estado, and Barclays Capital in New York and served as a Professor of Economics in the School of Government at the Catholic University of Chile. Throughout his career, Mr. Valdés has published numerous academic and policy papers on fiscal, monetary, and other macroeconomic and financial topics.
"Rodrigo comes to FAD at a time of continued uncertainty in the global economy. It is a moment that demands exceptional leadership, deep collaboration across departments, and agile responsiveness to our members," added Ms. Georgieva. "Throughout his Fund career, Rodrigo has been highly appreciated for his sharp analytical mind and for his genuine care for his staff. I am confident that Rodrigo's intellectual heft, in-depth knowledge of the Fund, and excellent communication and people skills will serve the department, the Fund, and our membership well."
Mr. Valdés holds a Ph.D. in economics from the Massachusetts Institute of Technology and a bachelor's degree in economics from the University of Chile.
