Laura Alfaro, renowned Harvard Business School professor, has been appointed as the new Chief Economist and Economic Counselor for the Inter-American Development Bank, marking a significant milestone in economic leadership for Latin America and the Caribbean.

The Inter-American Development Bank (IDB) has announced the appointment of Laura Alfaro as its new Chief Economist and Economic Counselor, effective June 1, 2025. 

Alfaro is recognized for her deep expertise in international economics and public policy within the Latin America and Caribbean region. Prior to joining the IDB, Alfaro was the Warren Alpert Professor of Business Administration at Harvard Business School and served as Costa Rica's Minister of National Planning and Economic Policy. 

Her work has focused on international economics, capital flows, foreign direct investment, and trade. Alfaro has held influential editorial and research roles, including as Co-Editor of the Journal of International Economics and Vice-President of the Latin American and Caribbean Economic Association (LACEA). 

As Chief Economist, Alfaro will lead the IDB’s Research Department, reinforcing its role as a thought leader on issues such as productivity, competitiveness, private-sector-driven growth, technology, fiscal sustainability, financial inclusion, resilience, and inequality. Under the IDBImpact+ vision, her department will further integrate rigorous economic research into policy and operations to foster impactful solutions and guide decision-making across Latin America and the Caribbean. 

IDB President Ilan Goldfajn welcomed Alfaro, emphasizing the appointment comes at a critical moment as the bank strengthens its commitment to knowledge-driven development. 

Alfaro expressed her enthusiasm for the new role, stating, "Knowledge only makes sense when it becomes impact. Today, more than ever, our region needs bold ideas, rigorous analysis, and genuine collaboration to turn data into decisions that improve lives." 

She succeeds Eric Parrado, who now serves as IDB Invest’s Managing Director for Central America, Mexico, Panama, Dominican Republic, and Haiti.

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_{^{Image Credit: Inter-American Development Bank}}