Laura Alfaro Appointed Chief Economist at Inter-American Development Bank: A New Era in Economic Policy

Laura Alfaro Becomes Chief Economist for the Inter-American Development Bank

On June 5, 2025, the Inter-American Development Bank (IDB) announced the appointment of Laura Alfaro as its new Chief Economist and Economic Counselor, after a rigorous selection process. Alfaro's extensive background in economic research and public policy, particularly in Latin America and the Caribbean, positions her well to lead the bank's efforts in addressing some of the most pressing economic challenges of the region.

Alfaro's role will enhance the IDB's research department, solidifying its position as a leading voice on issues critical to the region, such as productivity and competitiveness, private sector-led growth, technology and AI, public sector efficiency, fiscal sustainability, financial inclusion, and innovation. Her leadership is expected to significantly contribute to realizing the IDB's IDBImpact+ vision, which aims to integrate economic analysis directly into operations, policies, and strategies to support regional development.

IDB President Ilan Goldfajn expressed his enthusiasm for Alfaro's nomination, noting that it coincides with a pivotal phase of IDBImpact+. He stated, "Research and knowledge are at the heart of our strategy, aiming to shape public debate and integrate research into our work to support the region on our shared priorities."

In her acceptance of the role, Alfaro remarked, "It is an honor and a great pleasure to serve as Chief Economist and Economic Advisor at the Inter-American Development Bank. Knowledge is meaningful only when it makes an impact. Our region today needs bold ideas, rigorous analysis, and genuine collaboration more than ever to transform data into decisions that improve lives."

Before her appointment at the IDB, Alfaro was a professor of Business Administration at Harvard Business School. Furthermore, she served as the Minister of National Planning and Economic Policy in Costa Rica from 2010 to 2012. Made a dual citizen of the United States and Costa Rica, she holds a Ph.D. in Economics from UCLA as well as degrees from the University of Costa Rica and the Pontificia Universidad Católica de Chile.

The IDB, founded in 1959, is dedicated to enhancing the quality of life throughout Latin America and the Caribbean. The bank collaborates with the public sector to develop effective and innovative solutions for sustainable and inclusive development across 26 countries. For more information, visit the IDB website at IDB.

Alfaro's appointment signals a commitment to addressing economic issues that are vital to the development and prosperity of the region. In taking on her new responsibilities, she is expected to leverage her extensive experience and collaborative approach to foster regional progress in areas such as innovation in energy supply, poverty alleviation, and reducing inequality, among others. As she begins her role, expectations are high for the impactful changes and insights she will bring to the IDB and the communities it serves.

With a strong focus on integrating evidence-based research into practical policy, Laura Alfaro's leadership is poised to guide the IDB into a new era where data-driven solutions will play a crucial role in navigating the complex economic landscape of Latin America and the Caribbean. As she embarks on this endeavor, stakeholders across the region eagerly await the transformative initiatives and collaborations that will undoubtedly emerge under her expert guidance.