The International Monetary Fund (IMF) has announced that its African Department director Abebe Selassie will retire on May 1 2026, ending a tenure defined by overlapping economic shocks across sub-Saharan Africa. In a statement issued on Wednesday, IMF managing director Kristalina Georgieva said Selassie, who has led the African Department since 2016, guided the institution’s engagement with 45 countries through a period marked by surging programme demand and heightened vulnerability. “As director of AFR since 2016, Abe has guided the department through a period of profound change and challenge,” Georgieva said, noting that the department reinforced the fund’s role as a trusted partner to African members while adapting to evolving needs.
In November last year, Selassie led an IMF delegation to Malawi to engage authorities on the country’s emergency response at a time when the economy was grappling with dwindling foreign-exchange reserves, elevated inflation and the impact of climate-related disasters. Speaking at the time Minister of Finance, Economic Planning and Decentralisation Joseph Mwanamvekha,described Selassie as a reasonable interlocutor who demonstrated a clear understanding of Malawi’s constraints and priorities. The engagement reflected the broader role of the African Department under Selassie in responding to crisis-driven programme demand while balancing short-term stabilisation with longer-term recovery considerations. An Ethiopian national, Selassie joined the IMF in 1994 and built a 32-year career that included senior roles as deputy director in the African Department.
