Abebe Aemro Selassie, who has served as Director of the African Department at the International Monetary Fund (IMF) for nearly a decade, is set to step down from his role on May 1, 2026. His departure will mark the end of a 9-year tenure leading the Fund’s engagement across sub-Saharan Africa during one of the most turbulent economic periods in recent history.
The announcement was made by IMF Managing Director, Ms Kristalina Georgieva, who praised Mr Selassie’s stewardship of the department since he assumed leadership in 2016. She highlighted that his time in charge coincided with a succession of crises and global disruptions that profoundly affected African economies, including the COVID-19 pandemic, a spike in global inflation, changing trade dynamics, and heightened economic uncertainty.
According to Ms Georgieva, Selassie played a central role in guiding the IMF’s work with 45 countries across sub-Saharan Africa as demand for financial support and policy assistance surged. He helped the Fund navigate the rapidly evolving needs of governments dealing with shrinking fiscal space, rising debt levels, social pressures, and fragile economic recovery. His leadership, she noted, helped strengthen the IMF’s presence as a reliable partner to African policymakers.
One of the key institutional changes that took place under his watch was the addition of a 25th seat on the IMF Executive Board, expanding formal representation for sub-Saharan Africa and giving the region a stronger collective voice within the global financial system. Ms Georgieva credited Mr Selassie with advocating policies and initiatives tailored to the realities of African economies, as well as overseeing enhanced capacity-building initiatives aimed at improving domestic policymaking in the region.
She added that Selassie was a strong proponent of deeper IMF engagement in fragile and conflict-affected states, ensuring that countries facing instability were not left behind in conversations about economic resilience and development. His push for targeted support was complemented by efforts to modernise internal operations within the African Department and to foster greater collaboration across IMF units on issues such as debt restructuring, financing mechanisms under the Poverty Reduction and Growth Trust (PRGT), and responses to economic shocks.
Reflecting on his legacy, Georgieva said Selassie’s vision helped align the IMF’s work in Africa with the aspirations of the continent’s youthful population, who were seeking stable governance, vibrant economies, and sustainable livelihoods. She noted that his diplomacy, strategic insight, and commitment to inclusive growth had left a permanent imprint on how the Fund worked with Africa. She also acknowledged his personal contribution to shaping policy debates and supporting leaders across the region through periods of intense challenge.
Selassie’s association with the IMF spans more than three decades. An Ethiopian national, he joined the institution in 1994 and went on to occupy several influential roles before rising to head the African Department. His past positions include serving as Deputy Director in the same department, working as Mission Chief for both Portugal and South Africa, leading the Regional Studies Division, and representing the IMF as Senior Resident Representative in Uganda.
Over the course of his career, he participated in or oversaw economic programmes and policy engagements not only in Africa, but also in countries such as Turkey, Thailand, Estonia and Romania. His work covered a wide range of themes, from financial sector stability and macroeconomic reform to research and operational policy reviews, giving him broad exposure to the challenges and opportunities facing emerging and developing economies.
As he prepares to leave the IMF after 32 years of service, tributes from the institution’s leadership emphasise his reputation as a thoughtful adviser, a steady hand during crises, and a strong advocate for Africa within the Fund. His retirement will bring to a close a chapter defined by intense economic headwinds, during which he helped shape the IMF’s evolving relationship with one of the world’s most dynamic and most vulnerable regions.
