The International Monetary Fund (IMF) has proposed the appointment of Dan Katz, the US Treasury Department’s chief of staff, as its new second-in-command. The selection, which requires approval from the Fund’s executive board, would place a close associate of Treasury Secretary Scott Bessent among the top ranks of the organization. Katz’s work as first deputy managing director is expected to commence on October 6, pending approval.
Katz, who has been the principal advisor to the Treasury Secretary on domestic and international matters, has longstanding ties with Bessent and previously consulted for the Treasury chief’s hedge fund. He has been instrumental in developing the US government’s economic partnership with Ukraine and has played a central role in international negotiations, including with China. The IMF highlighted Katz’s ability to build relationships with a wide range of interlocutors as an important asset to the Fund.
The proposed appointment comes at a time when the IMF has faced criticism from the Trump administration, with Treasury Secretary Bessent suggesting that the organization needs to be “made fit for purpose again.” The previous number-two official at the IMF, Gita Gopinath, left the Fund in August to return to Harvard University after serving as the first female chief economist and later as first deputy managing director.
Katz brings a wealth of experience to the role, having worked as an investment banker at Goldman Sachs and graduated from Yale University. IMF chief Kristalina Georgieva praised Katz’s belief in the important role of the Fund in helping member countries ensure economic and financial stability. The appointment is expected to reinforce the US’s influence within the organization, given Katz’s close ties to the Treasury Secretary.
The IMF’s executive board will need to approve Katz’s appointment, which is expected to be announced in the coming weeks. If approved, Katz will take on a key role in shaping the organization’s policies and initiatives, particularly in relation to international economic partnerships and negotiations. The development is significant, given the IMF’s role in promoting global economic stability and cooperation.
