2 months ago
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Dr Nigel Clarke, right, and Prime Minister Andrew Holness (left).
Dr Nigel Clarke will leave his role as Jamaica’s Minister of Finance.
This, as he’ll take up the post of Deputy Managing Director of the International Monetary Fund, IMF – the second highest post in the organisation.
Dr Clarke’s appointment to the IMF becomes effective October 31, 2024. He’ll replace Antoinette Sayeh, who’ll step down from the role on September 12.
The Managing Director of the IMF, Kristalina Georgieva, proposed Dr Clarke’s appointment as the deputy on Monday.
Prime Minister Andrew Holness has hailed Dr Clarke’s historic appointment to what he described as a ‘consequential global position’.
Prime Minister Holness says the government says has identified Dr. Clarke’s successor as the Minister of Finance and Public Service.
Prime Minister Andrew Holness.
Meanwhile, the IMF’s Georgieva has praised Dr Clarke’s stewardship of Jamaica’s financial affairs, citing his ‘innovative’ guidance of the country through the Covid-19 pandemic as a highlight.
“Mr. Clarke is an exceptional public servant and policymaker, with proven leadership in institution building and economic crisis management, who has stewarded his country’s economy to a stronger and more sustainable position. Since 2016, he has been the IMF’s chief counterpart on successive and historically successful programs for Jamaica, including an Extended Fund Facility, a precautionary Stand-By Arrangement, and most recently a Precautionary Liquidity Line plus Resilience and Sustainability Facility, leaving the country with robust economic fundamentals. Nigel also brings a wealth of experience from a stellar private sector career,” said Georgieva in a statement on Monday.
Dr Nigel Andrew Lincoln Clarke is also the Member of Parliament for St Andrew Northwestern. He became the member of parliament following a by-election in 2018.
Before entering representational politics Dr Clarke served as senator in the Upper House of Parliament from 2013 to 2015.
Dr Clarke also served as Ambassador of Economic Affairs where he represented Jamaica’s interests with multilateral institutions.
Minister Clarke’s public sector career includes service, over various periods, as Chairman of the National Housing Trust, Chairman of the Port Authority of Jamaica, Chairman of the HEART Trust and Director of the Bank of Jamaica.
Mr. Clarke holds a PhD in Numerical Analysis from Oxford University where he was a Rhodes Scholar, and a Master of Science Degree in Applied Statistics, also from Oxford, while he was a Commonwealth Scholar. He also holds a Bachelor of Science Degree in Mathematics and Computer Science from the University of the West Indies where he was a Jamaica Independence Scholar.
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