IMF taps Credit Suisse’s Goldfajn for Western Hemisphere role

The International Monetary Fund tapped Ilan Goldfajn, chairman of Credit Suisse Group AG in Brazil and a former Central Bank president in that country, to lead its Western Hemisphere Department at a time the Washington organisation is in talks to rework a US$45-billion failed programme with Argentina.

Goldfajn will start his new role on Januarty 3, IMF Managing Director Kristalina Georgieva said in a statement on Monday. The executive replaces Alejandro Werner, who is retiring after eight years in the position.

“His proven track record as a policy maker, communicator, as well as his depth of knowledge as an international finance executive and his familiarity with the Fund’s work will be invaluable in helping our member countries in the region,” Georgieva said about Goldfajn in the statement. 

One of the most well-known economists in Brazil, Goldfajn will be part of the group leading talks with Argentina over the Fund’s largest-ever programme approved in 2018 and which failed to lift the South American economy. As Western Hemisphere head, he will also oversee the IMF’s agreements with Ecuador and Costa Rica, among other responsibilities. 

Credit Suisse said Ana Paula Pessoa will replace Goldfajn as chairman of the Brazilian unit of the Zurich-based bank from January, according to a separate statement.