IDB Appoints Laura Alfaro as New Chief Economist to Drive Economic Innovation in Latin America and the Caribbean

The Inter-American Development Bank (IDB) has taken a significant step towards reinforcing its economic strategy with the appointment of Laura Alfaro as the new Chief Economist and Economic Counselor. This decision highlights the Bank's intensified focus on leveraging economic research and policy innovation to tackle the complex challenges facing Latin America and the Caribbean. Alfaro's extensive background in economic research, coupled with her practical experience in public policy, positions her as a key figure in steering the Bank's strategic initiatives, especially in enhancing productivity, fostering private sector growth, and promoting technological innovation.

Alfaro's arrival at the IDB coincides with the rollout of IDBImpact+, a strategic initiative designed to embed economic analysis more deeply into the Bank's operations and decision-making processes. IDB President Ilan Goldfajn has underscored the critical role Alfaro is expected to play in this endeavor, pointing to the integration of research and knowledge as central to achieving sustainable and inclusive development across the region. Alfaro herself has expressed a strong commitment to transforming theoretical insights into practical solutions, emphasizing the need for innovative approaches and rigorous analysis to improve the lives of millions in the region.

Before joining the IDB, Alfaro's distinguished career included serving as a Professor of Business Administration at Harvard Business School and as the Minister of National Planning and Economic Policy in Costa Rica. Her academic credentials, featuring a Ph.D. in Economics from UCLA and degrees from the Universidad de Costa Rica and the Pontificia Universidad Católica de Chile, provide her with a comprehensive understanding of both the theoretical and practical aspects of economic development. This unique blend of expertise is anticipated to be invaluable in her new role, enabling the IDB to more effectively address the economic and social challenges of Latin America and the Caribbean.

The appointment of Laura Alfaro as Chief Economist and Economic Counselor is a clear indication of the IDB's commitment to harnessing expertise and innovation in its mission to promote regional development. Her leadership is expected to significantly enhance the Bank's ability to contribute to the economic well-being and growth of Latin America and the Caribbean, marking a new chapter in the IDB's efforts to support the region's development agenda.