The International Monetary Fund (IMF) has announced the appointed of Jamaica’s finance minister Nigel Clarke as its deputy managing director.

Clarke whose appointment is effective October 31, 2024 takes over from Liberian economist Antoinette Sayeh who is scheduled to step down beginning September 1, 2024.

IMF Managing Director Kristalina Georgieva made the announcement to the lender’s executive board to tap Clarke to the position.

“Mr. Clarke is an exceptional public servant and policymaker, with proven leadership in institution building and economic crisis management, who has stewarded his country’s economy to a stronger and more sustainable position,” she said.

Clarke has been Jamaica’s Minister of Finance and the Public Service, and a Member of Parliament, since March 2018.

Prior to this, he served as ambassador of economic affairs from 2016. During this period, he spearheaded national reforms, including central bank independence, creation of an independent fiscal commission, as well as other tax policy.

Clarke also led Jamaica’s economic policy response to the COVID-19 pandemic with innovative and well-targeted policy support.

In 2022, Clarke was elected chairman of the board of governors of the Inter-American Development Bank and the Inter-American Investment Corporation.

Clerke’s Education background

Clarke holds a PhD in Numerical Analysis from Oxford University and a Master of Science Degree in Applied Statistics, also from Oxford.

He also holds a Bachelor of Science Degree in Mathematics and Computer Science from the University of the West Indies.