MercoPress. South Atlantic News Agency

IMF appoints Daniel Katz as new second-in-command

Katz's immediate past role was as Chief of Staff to US Treasury Secretary Scott Bessent

Following the resignation of Economist Gita Gopinath earlier this year, the Washington-based International Monetary Fund's (IMF) Executive Board announced on Friday that it was hiring Daniel Katz as the new First Deputy Managing Director (FDMD), who is to assume his new duties on Monday.

A US lawyer and a close associate of President Donald Trump, Katz was nominated by IMF Managing Director Kristalina Georgieva in mid-September. His immediate past role was as Chief of Staff to US Treasury Secretary Scott Bessent. He also served as a senior economic advisor during the previous Trump administration.

The United States, as the IMF's largest shareholder, traditionally nominates the second-in-command, while the top position is decided by the European partners.

“At a time of significant transformation in the global economy, I am very pleased that the IMF's Executive Board has approved Katz's appointment,” Georgieva said on Friday.

“I warmly welcome him to the IMF team and look forward to working closely with him. The IMF will benefit from his outstanding experience in economic policy and international relations, as well as his incisive thinking and leadership in addressing complex challenges,” she added while underlining Katz's work on the US economic partnership with Ukraine.

In addition to his government roles, Katz has experience in the private sector, having worked at a global macro hedge fund and as an investment banker at Goldman Sachs.