IMF proposes US Treasury official as first deputy managing director

IMF chief Kristalina Georgieva nominated US Treasury official Daniel Katz as first deputy managing director, pending board approval. He would succeed Gita Gopinath, who returned to Harvard after leaving the IMF.

Washington: International Monetary Fund (IMF) Managing Director Kristalina Georgieva has proposed the appointment of Daniel Katz, chief of staff to US Treasury Secretary Scott Bessent, as first deputy managing director — widely regarded as the IMF’s number two leadership post.

The proposed appointment, effective October 6, is subject to approval by the IMF’s Executive Board, the IMF said in a statement.

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Katz, who has been associated with the Treasury Department for more than a decade, is the principal advisor to Bessent on a wide range of domestic and international matters, according to the statement. He also consulted for Bessent’s hedge fund before being named Bessent’s chief of staff in President Donald Trump’s current term, according to local media.

“Dan is known to his colleagues for his passion for policy work, particularly the intersection of economic policy and international relations. He is highly respected for his solution-oriented approach, collaborative leadership style, and willingness to bring fresh perspectives to difficult issues,” Georgieva said in nominating Katz.

The announcement comes nearly two months after the IMF chief said that Gita Gopinath would leave her post as the IMF’s first deputy managing director at the end of August and return to Harvard University, Xinhua news agency reported.

Traditionally, European countries have selected the fund’s managing director, while the US Treasury Department has played a key role in recommending candidates for the first deputy managing director’s position.