The International Monetary Fund (IMF) has proposed appointing Dan Katz, the U.S. Treasury Department’s chief of staff, as its new second‑in‑command. The selection, which must be approved by the Fund’s executive board, would place a close associate of Treasury Secretary Scott Bessent among the IMF’s top ranks. Katz is slated to begin his duties as first deputy managing director on October 6, pending board approval.
Katz has served as the principal advisor to the Treasury Secretary on both domestic and international matters and has long-standing ties with Bessent. He previously consulted for the Treasury chief’s hedge fund and was instrumental in shaping the U.S. government’s economic partnership with Ukraine. He has also played a central role in international negotiations, including talks with China. The IMF highlighted his ability to build relationships with a wide range of interlocutors as a valuable asset to the organization.
The proposed appointment comes at a time when the IMF has faced criticism from the Trump administration, with Treasury Secretary Bessent arguing that the institution needs to be “made fit for purpose again.” The previous number‑two official, 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 holding a degree from Yale University. IMF chief Kristalina Georgieva praised his belief in the Fund’s important role in helping member countries ensure economic and financial stability. If approved, his appointment is expected to reinforce U.S. influence within the IMF, given his close ties to the Treasury Secretary.
The IMF’s executive board will need to approve Katz’s appointment, with an announcement anticipated in the coming weeks. Upon confirmation, he will assume a key role in shaping the organization’s policies and initiatives, particularly regarding international economic partnerships and negotiations—a development of significance given the IMF’s mandate to promote global economic stability and cooperation.
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