WASHINGTON, USA – Kristalina Georgieva, managing director of the International Monetary Fund (IMF), announced Monday, that Vitor Gaspar intends to retire as director of the fiscal affairs department in November 2025.
“Vitor has worked to build up the institution’s expertise in all areas of public finance, including tax policy, revenue administration, expenditure policy, and public finance management,” said Georgieva. “He will leave behind a legacy of fighting for the implementation of sound policies, advocating for the most fragile populations, and finding ways to address inequality,” Georgieva added.
Gaspar, a Portuguese national, joined the Fund in 2014 to head the Fiscal Affairs Department (FAD). Over the past 11 years, the department has significantly strengthened its global standing among fiscal policy experts and policymakers as a center of excellence in applied fiscal policy research and in capacity development. In 2015, Mr. Gaspar spearheaded the launch of the Richard Goode Lecture, an annual event to help foster interaction and exchange of ideas among leading academic researchers in fiscal policy and fiscal politics.
Under Gaspar’s leadership, FAD played a major role in the Fund’s response to the COVID-19 and its advice to the membership. Additionally, Gaspar oversaw the establishment of dedicated groups within the department to support member countries in managing the fiscal challenges associated with structural transitions.
“Vitor has been a mentor to many colleagues across the Fund and has fostered a strong corporate service culture within FAD,” said Georgieva. “The senior management team and I are especially grateful for his candid sharing of FAD’s analyses and insights and its innovative approaches to delivering high-quality support to our members.”
