IMF Africa chief Abebe Selassie to retire after leading department through turbulent decade

The International Monetary Fund (IMF) managing director, Kristalina Georgieva, has announced that Abebe Aemro Selassie will retire as director of the IMF’s African Department (AFR) on May 1, bringing to a close a distinguished 32-year career at the Fund.

Selassie has led the African Department since 2016, a period marked by exceptional economic and geopolitical challenges for sub-Saharan Africa.

Under his leadership, the IMF significantly scaled up its engagement with 45 countries in the region as demand for financial support surged amid the COVID-19 pandemic, rising inflation, debt vulnerabilities and shifting global trade dynamics.

“Abe has guided the department through a period of profound change and challenge,” Georgieva said, noting that AFR’s work during this time helped reinforce the IMF’s role as a trusted partner to African member countries.

She highlighted his role in overseeing the Fund’s response to multiple overlapping shocks, while ensuring that policy advice remained tailored to the diverse needs of the region.

One of the major milestones during Selassie’s tenure was the addition of a 25th chair to the IMF’s Executive Board, which strengthened the voice and representation of sub-Saharan Africa within the institution.

Georgieva said this reflected the Fund’s growing recognition of Africa’s importance in the global economy and its commitment to inclusive governance.

Selassie was also credited with championing capacity development across the region, deepening IMF engagement in key countries and helping mobilise additional resources for fragile and conflict-affected states.

He played a central role in modernising AFR’s operations and strengthening collaboration across IMF departments, particularly on complex issues such as debt resolution, concessional financing through the Poverty Reduction and Growth Trust (PRGT), and building resilience to economic shocks.

Georgieva praised Selassie’s strategic vision and diplomatic skills, saying his leadership left an enduring mark on the Fund’s work in Africa.

“The legacy he leaves on the Fund’s work in Africa is one of alignment with the aspirations of people, especially the youth, for good governance, strong economies and lasting prosperity. His trusted advice has been invaluable to me personally, and his leadership has strengthened our mission,” Georgieva said.

An Ethiopian national, Selassie joined the IMF in 1994 and held several senior roles, including Deputy Director of AFR, Mission Chief for South Africa and Portugal, and Senior Resident Representative in Uganda.

He also worked on IMF programmes in Turkey, Thailand, Romania and Estonia, contributing extensively to policy development, operational reviews and economic research.

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