Laura Alfaro Appointed Chief Economist at Inter-American Development Bank

Laura Alfaro Takes on Chief Economist Role at IDB

The Inter-American Development Bank (IDB) has announced that Laura Alfaro has officially been appointed as the Chief Economist and Economic Counselor after a rigorous selection process. Alfaro brings a wealth of knowledge in economic research and public policy, particularly in the context of Latin America and the Caribbean. Her expertise is expected to significantly bolster IDB’s efforts to tackle pressing regional challenges such as productivity, competitiveness, private-sector-led growth, technology and AI advancements, public sector efficiency, fiscal sustainability, financial inclusion, innovations, energy resilience, and issues of poverty and inequality.

In response to her recent appointment, Ilan Goldfajn, the President of the IDB, expressed enthusiasm, stating, “We are very pleased with Laura's appointment, coinciding with the rollout phase of our BIDImpact+ strategy. Research and knowledge are central to our strategy, which seeks to shape public discourse and incorporate research into our operations to effectively address the region's needs within our common priorities.”

Alfaro recognizes the importance of impactful knowledge: “It is an honor and a great joy to join the Inter-American Development Bank as its Chief Economist and Economic Counselor. Knowledge is only meaningful when it has an impact. Today, more than ever, our region requires bold ideas, rigorous analysis, and real collaboration to transform data into decisions that improve people's lives. I look forward to working alongside an extraordinary team to contribute to this goal at such a pivotal time for our region.”

Joining the IDB on June 1, 2025, Alfaro was previously a professor of business administration at Harvard Business School and served as the Minister of National Planning and Economic Policy for Costa Rica from 2010 to 2012. Holding dual citizenship in the United States and Costa Rica, she possesses a PhD in Economics from UCLA, in addition to degrees from the Universidad de Costa Rica and the Pontificia Universidad Católica de Chile.

The Role and Vision of the IDB

Founded in 1959, the Inter-American Development Bank is dedicated to improving living conditions across Latin America and the Caribbean. The IDB collaborates closely with public sector entities in the region, designing and implementing innovative solutions with the goal of fostering sustainable and inclusive development. Through its financing, technical expertise, and knowledge, the IDB aims to promote growth and wellbeing in 26 countries throughout the area.

The appointment of Laura Alfaro is particularly significant as the IDB continues to strengthen its research department's role in enhancing awareness of the region's most pressing challenges. This announcement marks a crucial step in the IDB's ongoing commitment to leverage economic analysis more directly in its operations, policy development, and strategic planning. By integrating economic perspectives, the institution aims to become more attuned to the dynamic needs and conditions affecting its member countries.

As the IDB embarks on this new chapter with Laura Alfaro at the helm of economic research, stakeholders and citizens alike may look forward to seeing how her leadership and vision will shape future initiatives aimed at improving economic conditions in Latin America and the Caribbean.

Alfaro's diverse background, along with her commitment to evidence-based policymaking, positions her to inspire innovative approaches and collaborative efforts that can navigate the complex socio-economic landscapes of the region. Her leadership is anticipated to play a pivotal role in reinforcing the IDB's mission and addressing the challenges that lie ahead for the institution and its member countries.