IMF Africa Director Abebe Aemro Selassie to Step Down After a Decade of Turbulence and Reform

International Monetary Fund Managing Director Kristalina Georgieva has announced that Abebe Aemro Selassie will retire as Director of the Fund’s African Department on 1 May 2026, bringing to a close nearly a decade at the helm of one of the IMF’s most complex regional portfolios.

Mr Selassie has led the African Department since 2016, a period marked by overlapping global shocks and rising demands for IMF support across sub-Saharan Africa. During his tenure, the Fund engaged with 45 countries in the region, navigating unprecedented programme demand amid the COVID-19 pandemic, a surge in global inflation, and shifting international trade dynamics.

Announcing the decision in Washington, DC, Ms Georgieva credited Mr Selassie with steering the department through profound change while adapting IMF engagement to Africa’s evolving needs. Under his leadership, the Fund reinforced its position as a trusted partner to African member states, while also expanding the region’s influence within the institution through the addition of a 25th chair on the IMF Executive Board, strengthening sub-Saharan Africa’s collective voice.

Beyond crisis response, Mr Selassie championed more tailored policy advice and expanded capacity development support across the continent. He played a central role in mobilising additional resources for fragile and conflict-affected states and deepened IMF engagement in key economies. His tenure also saw internal reforms, including the modernisation of departmental operations and stronger cross-departmental collaboration on critical issues such as debt resolution, Poverty Reduction and Growth Trust financing, and resilience to economic shocks.

Ms Georgieva highlighted Mr Selassie’s strategic vision and diplomatic skill, noting that his leadership helped align the Fund’s work in Africa with the aspirations of the region’s people, particularly its youth, for good governance, stronger economies and sustainable prosperity. She also acknowledged the personal value of his counsel, describing his advice as both trusted and invaluable.

A national of Ethiopia, Mr Selassie joined the IMF in 1994. Over a 32-year career, he has held several senior roles, including Deputy Director of the African Department, Mission Chief for Portugal and South Africa, Division Chief of the Regional Studies Division, and Senior Resident Representative in Uganda. Earlier in his career, he worked on IMF programmes in Turkey, Thailand, Romania and Estonia, as well as on policy, operational review and economic research.

His departure comes at a moment when African economies continue to face high debt burdens, climate vulnerability and uneven recovery prospects, alongside renewed calls for reform of the global financial architecture. The transition in leadership at the African Department will therefore be closely watched by governments, markets and development partners alike.

For Africa, Mr Selassie’s legacy is tied to a decade in which global crises repeatedly tested economic resilience, yet also underscored the continent’s growing agency within multilateral institutions. As young African states continue to navigate structural constraints while pushing for fairer global economic rules, the emphasis he placed on voice, partnership and tailored solutions offers a reminder that progress, though incremental, is built through sustained engagement and long-term vision.