Ceyla Pazarbasioglu will retire as Director of the Strategy, Policy, and Review Department (SPR) at the International Monetary Fund (IMF) on November 1, 2025. The announcement was made by Kristalina Georgieva, Managing Director of the IMF.
“As Director of SPR since 2020, Ceyla has steered the department with agility and focus through one of its most challenging periods. She helped lead the Fund’s unprecedented response to the COVID-19 pandemic, including scaling up emergency financing, negotiating the $650 billion SDR allocation, and creating the IMF’s Food Shock Window,” said Ms. Georgieva. “Under her leadership, the Fund delivered lending reforms to lower GRA borrowing costs, boost concessional resources, and raise access limits—crucial steps to support our members,” Ms. Georgieva added.
Ms. Pazarbasioglu began her career at the IMF in 1992 and worked on policy and country issues related to structural reforms until 1998. After leaving for five years in private sector roles and service in Türkiye’s government during its 2001 economic crisis—including as Vice President of the Banking Regulation and Supervision Agency—she returned to the IMF in 2003.
During her second tenure at the IMF, she oversaw Emerging Markets chapters for key financial reports and managed financial sector policies across various countries. She later became Assistant Director in the European Department and Mission Chief for Ukraine before serving as Deputy Director in Monetary and Capital Markets. In that capacity, she led a team conducting Spain's Financial Sector Assessment Program review.
Between 2015 and 2020, Ms. Pazarbasioglu held positions at the World Bank—including Vice President for Equitable Growth, Finance and Institutions—before returning to head SPR at the IMF for a third time.
Her recent work included leading initiatives such as launching debt relief programs like the Debt Service Suspension Initiative and supporting frameworks like G-20 Common Framework for Debt Treatment. She also contributed to establishing new facilities such as the Resilience and Sustainability Trust—the first long-term affordable financing option from IMF—and played a significant role supporting contributions to international groups like G7 and G20.
“Under her tenure, Ceyla helped ensure the IMF delivers on its mandate and is fit for purpose. And her incredible gift of diplomacy helped keep the IMF’s global engagement strong,” said Ms. Georgieva. “The senior management team and I have deep appreciation for her conscientiousness, brilliance, and legacy of service to our organization and our members.”