Portugal Colonial - US Treasury official expected to be named IMF's second-in-command: source

Dan Katz, who currently works with Treasury Secretary Scott Bessent, is expected to be selected as the next first deputy managing director of the IMF. The source was familiar with the matter, and spoke on condition of anonymity due to the sensitivity of the topic.

No formal announcement has been made by the Washington-based lender.

A Treasury spokesperson declined to comment, and the Fund did not immediately respond to queries.

The United States, which is the biggest shareholder in the Fund, typically nominates its top deputy. This is subject to approval within the organization.

By convention, the European Union traditionally nominates the IMF's chief.

Katz, who is chief of staff at the Treasury, was a senior official in the department during US President Donald Trump's first administration as well.

The source familiar with the matter noted that Katz has longstanding ties with Bessent and previously consulted for the Treasury chief's hedge fund.

Katz has worked with Goldman Sachs as an investment banker in the past, and is a graduate of Yale University.

In the current Trump administration, Katz has helped steer the Treasury's international economic strategy, including on Ukraine, and was involved in Washington's trade and economic talks with Beijing.

His potential nomination to the IMF comes after Gita Gopinath left the role in August to return to Harvard University.

Gopinath joined the IMF in 2019, becoming the first female chief economist in its history, before being promoted to first deputy managing director in 2022.

In the role, she had represented the IMF at multilateral gatherings like the Group of Seven and Group of 20 meetings. She also played a leading role in the Fund's work, including on monetary and fiscal policies, debt and international trade.

A.P.Maia--PC