Lagarde picks former Economist staff to head IMF Africa

Christine Lagarde, managing director of the International Monetary Fund (IMF), has announced the appointment of Abebe Selassie as director of the IMF’s African department.

Selassie succeeds Antoinette Sayeh whose departure was announced previously. He is expected to begin his work in this capacity on September 19, 2016.

“Abe brings a profound understanding of the challenges facing Africa, having worked closely with policymakers from across the region for much of his career,” the IMF boss said.

“His proven ability to provide intellectual leadership, track record of building collaborative relationships, analytical depth, and warm collegiality make him ideally placed to lead the IMF’s work with our membership in sub-Saharan Africa.

“Having had the opportunity to work with Abe over the last five years, I have been struck by his sound judgement, integrity, and commitment to teamwork.”

According to IMF, Selassie’s career has spanned the private sector, government, and the fund.

“During his time in the IMF’s African Department, he was senior resident representative in Uganda, served as mission chief for South Africa, led work on the Regional Economic Outlook, and worked in various roles on countries ranging from Cote D’Ivoire, Ghana, and Kenya, to Burkina Faso, Guinea, Liberia, and Sierra Leone.

“Most recently, Mr. Selassie oversaw the IMF’s effort to assist the three Ebola-stricken countries. Mr. Selassie also brings extensive operational and policy experience from his assignments in other IMF departments, including the Strategy, Policy and Review Department and the European Department.”

He worked on Turkey and Poland between 1999 and 2003, and was assistant director and mission chief for Portugal during the Eurozone crisis. He has also worked on low-income country and emerging-market program and policy design issues.

Before joining the IMF, Selassie worked for the Economist Intelligence Unit (EIU), specialising in sovereign credit risk issues, and then for the Ethiopian government as principal economist in the office of the president.

He holds a B.A. in economics from City of London Polytechnic and a master’s in economic history from London School of Economics.

“The IMF remains deeply committed to serving our members in Africa. Abe will bring a unique blend of extensive knowledge and experience to his new position as Director of the African Department,” Lagarde said.