Abebe Aemro Selassie, director of the International Monetary Fund’s African Department, will retire on May 1 after nearly a decade overseeing the Fund’s engagement with sub-Saharan Africa, IMF Managing Director Kristalina Georgieva announced on Wednesday.
Selassie, who has led the department since 2016, guided the IMF’s work across 45 countries during a period marked by multiple economic shocks, including the Covid-19 pandemic, rising inflation, debt distress and shifts in global trade and financing conditions.
“As director of AFR since 2016, Abe has guided the department through a period of profound change and challenge,” Georgieva said in a statement released by the IMF.
She said Selassie oversaw a surge in demand for IMF programmes across the region while adapting the institution’s engagement to the evolving needs of African economies.
During his tenure, the IMF expanded its support to countries facing balance-of-payments pressures, health emergencies and climate-related shocks, as well as fragile and conflict-affected states.
Georgieva credited Selassie with helping reinforce the Fund’s role as a “trusted partner” to its African member states at a time of heightened scrutiny of international financial institutions.
Under his leadership, the IMF also added a 25th chair to its Executive Board, increasing representation for sub-Saharan Africa and strengthening the region’s voice in the institution’s decision-making processes.
“Abe championed tailored policy advice and capacity development for sub-Saharan Africa,” Georgieva said, adding that he deepened engagement in key countries and helped mobilise additional resources to support vulnerable states.
She also said Selassie played a central role in modernising the African Department’s operations and strengthening collaboration with other IMF departments on critical issues, including debt resolution, concessional financing under the Poverty Reduction and Growth Trust (PRGT), and resilience to economic shocks.
His tenure coincided with growing concerns over rising public debt levels in several African countries, prompting efforts by the IMF to support debt restructuring and improve coordination with creditors.
Selassie also helped steer changes in how the IMF delivers capacity development across the region, as African governments sought support to strengthen public financial management, monetary policy frameworks and financial sector oversight.
“I am deeply grateful for Abe’s visionary leadership, dedication to the Fund’s mission, and unwavering commitment to the members in the region,” Georgieva said.
She said his legacy was closely aligned with the aspirations of African populations, “especially the youth”, for good governance, strong economies and long-term prosperity.
“Abe’s trusted advice has been invaluable to me personally, and his leadership has strengthened our mission,” she added.
A national of Ethiopia, Selassie first joined the IMF in 1994 and built a career spanning more than three decades at the Washington-based institution.
Over his 32-year tenure, he held several senior positions, including deputy director in 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, Selassie worked on IMF programmes and policy initiatives in countries including Turkey, Thailand, Romania and Estonia, and contributed to operational reviews and economic research.
His retirement comes as the IMF continues to deepen its engagement with Africa, where many economies face a complex mix of fiscal pressures, climate vulnerability and development financing gaps.
The Fund has said Africa will remain a priority region as it seeks to support macroeconomic stability, inclusive growth and resilience amid a challenging global environment.
The IMF did not immediately announce a successor to Selassie or outline the timeline for appointing a new director for the African Department.
