Gaston Gelos

Gaston Gelos (born Rafael Gaston Gelos) is a German-Uruguayan economist. He joined the International Monetary Fund (IMF) in 1998 and has served as the Assistant Director of the Western Hemisphere Department since October 2022, where he was the Mission chief for Mexico.

He previously served as Chief of the Monetary and Macroprudential Policies Division at the IMF. His research includes work on capital flows, financial stability, and monetary policy, and he has been published widely in leading academic journals. In April 2023, he was appointed as the Deputy Head of the Monetary and Economic Department and Head of Financial Stability at the Bank for International Settlements (BIS) effective September 1, 2023.

Career
In 1988, Gelos joined the IMF and spent his initial years there in the Research Department before working on various countries in the Western Hemisphere Department. He was the resident representative for the IMF in Montevideo, Uruguay (2005-2007) and Buenos Aires, Argentina (2007-2010), and Mission Chief for Nicaragua.

In 2013 he became the head of the Global Financial Stability Analysis Division, where he led the work on the analytical chapters of the Global Financial Stability Report. In 2017, Gelos lead the Financial Sector Assessment Program (FSAP) for Japan.

Between 2017 and 2022, he headed the Monetary and Macroprudential Policies Division, leading research and policy work on monetary- and macroprudential policies and overseeing global technical assistance efforts in these areas.

Research
Gelos' research covers topics including capital flows, banking, financial stability, and monetary policy and has been cited in The Economist, Financial Times, Reuters, economic blogs, and global newspapers. His most cited work discusses the role of transparency in shaping international investor behavior. Gelos is a Center for Economic and Policy Research (CEPR) research fellow.