BRIDGETOWN, Barbados (CMC)— Barbados Prime Minister Mia Mottley has welcomed the appointment of Jamaica’s Finance Minister Dr Nigel Clarke as the new deputy managing director of the International Monetary Fund (IMF), saying that “this achievement marks a significant milestone…for the entire Caribbean region”.

IMF managing director, Kristalina Georgieva, on Monday said Clarke’s appointment to the Washington-based financial institution represents “a tremendous addition to our skills and capabilities, strongly supported by staff at the IMF”.

Georgieva said Clarke is expected to take up the position on October 31, and will succeed Antoinette Sayeh, who steps down on September 12.

In a message posted on X, formally Twitter, Prime Minister Mottley said that the appointment “is a testament to the talent within our region and it sets a powerful example for us all.

“Congratulations Dr Clarke, the Caribbean stands proudly with you as you step into this new chapter,” she wrote, adding that she was extending congratulations also on behalf of the government and people of Barbados.

Georgieva said that Clarke will become “a member of the most senior leadership team” of the IMF that consists of four deputy managing directors and herself and that “his role is to help me lead the Fund and provide service to 190 members”.

Prime Minister Andrew Holness described the appointment as an “historic and important development,”  noting that no citizen of Jamaica, the Caribbean or Central America has ever before served at this level in the IMF in its 80-year history.

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.