The International Monetary Fund (IMF) has announced that Tobias Adrian, its Financial Counsellor and head of the Monetary and Capital Markets Department, will step down on 31 August 2026.
Adrian has led the department through a period marked by major global economic disruptions, including the COVID-19 pandemic, the post-pandemic inflation surge, global trade tensions, and geopolitical shocks linked to conflicts in Ukraine and the Middle East. In his role, he also oversaw the IMF’s flagship Global Financial Stability Report, which assesses risks to the global financial system.
Prior to joining the IMF, Adrian held senior positions at the Federal Reserve Bank of New York, where he worked extensively on financial stability and market analysis.
IMF Managing Director International Monetary Fund Kristalina Georgieva praised his contribution, saying the Fund’s membership had benefited from his ability to translate complex financial analysis into clear policy guidance.
Adrian’s departure comes at a time when global financial stability risks remain elevated, with policymakers closely watching inflation dynamics, interest rate expectations, and debt vulnerabilities across both advanced and emerging economies.
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A successor has not yet been named.
