As leaders gather in Paris this week for a summit on tackling climate change, and how our global financial system should evolve to be part of the solution, skeptics may wonder whether most of the world’s cash-strapped countries really have the incentives and the capacity to do much. After all, even wealthy countries are struggling to address what is undoubtedly the … [Read more...] about Latin America and Caribbean Innovations Point Way on Climate Change
Ilan Goldfajn was elected IDB president on November 20, 2022. Mr. Goldfajn served as Director of the Western Hemisphere Department at the International Monetary Fund in 2022, where he helped countries implement IMF-supported programs to address an unprecedented array of challenges. He also contributed to the region’s policy dialogue on climate change with the IMF and oversaw the first Resilience and Sustainability Facility of the institution. Earlier in his career, he worked as an economist at the IMF, 1996-1999. Mr. Goldfajn previously served as Governor of the Banco Central do Brasil (BCB) 2016-2019 and Deputy Governor 2000-2003. He led the BCB in a period of unprecedented decline in inflation and interest rates in Brazil. He championed the structural “BC+“ agenda and oversaw the changes that opened the door to new players in the financial services industry, spurred innovation, digitalization, and started developing widespread fast payment system, all of which bolstered efficiency and more inclusion in Brazil’s financial sector. In 2017, he was elected Central Banker of the Year by The Banker magazine. The year after, Global Finance magazine him named the Best Central Banker. Mr. Goldfajn’s private sector experience includes key positions at Brazil’s financial institutions: Chief Economist and Partner of Itaú Unibanco, founding Partner of Ciano Investimentos, Partner and Economist at Gávea Investimentos and Chairman of Credit Suisse Brazil’s Advisory Board. He has also had several roles as a consultant at top public sector institutions including the World Bank, the United Nations and the IMF. He has an extensive academic career. He taught graduate and undergraduate economics at universities in Brazil and the United States. He has worked as an editor of various publications, as well as written and published numerous articles and books. Mr. Goldfajn holds a PhD in Economics from the Massachusetts Institute of Technology (MIT), a master’s degree in Economics from the Pontificia Universidade Católica and a bachelor’s degree in Economics from the Universidade Federal, both in Rio de Janeiro, Brazil. Mr. Goldfajn is fluent in English, Portuguese, Spanish and Hebrew. He took office at the IDB on December 19, 2022.