Description
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record US$43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
The IFC 3.0 strategy aims to stimulate more investment activity across emerging markets, especially in Low Income Countries (LICs) and Fragile and Conflict affected States (FCS). Our goal is to create, deepen, and expand markets and design and develop impactful investment projects. This strategy is, in part, premised on improved country/sector diagnostic, strategic, and public sector engagement capabilities, which seek to: 1) resolve obstacles to private sector growth via diagnostic and strategic work that informs both IFC operations and relevant IBRD/IDA policy operations; and 2) overcome the shortage of investable projects in priority markets by proactively improving the private sector ecosystem at the country and regional level.
The Country Advisory and Economics team for the Eastern and Southern Africa Region (CAEAE) supports the region through provision of country economic diagnostics, strategy, and engagement products as well as through direct support to operational teams and country units, in collaboration with economists throughout the World Bank Group. Specifically, the team has four principal functions:
• Producing both regional and country-level economic assessments to support IFC’s strategy and operations.
• Collaborating with regional and industry colleagues to produce analytical products such as Country Private Sector Diagnostics (CPSDs) and IFC Country Strategies.
• Significantly contributing to WBG products such as Systematic Country Diagnostics (SCD), Country Climate and Development Reports (CCDR), and IBRD/IDA lending operations; and
• Putting IFC’s country strategy and diagnostic recommendations into practice through Advisory projects that engage with governments, regulators, civil society, development partners and other relevant stakeholders to reform markets and sectors and address key bottlenecks to private sector development.
CAEAE is hiring a Senior Country Economist to be based in Johannesburg, South Africa working closely with IFC country, industry, and upstream teams in select countries in the Southern Africa Region. The Country Economist will report to the Country Advisory & Economics Manager in CAE.
Roles & Responsibilities:
• Lead the monitoring of macro-economic conditions and trends for countries in a designated IFC country cluster within the sub-region, and advise the IFC Regional Director, Country Managers, and operational teams on its impact on IFC operations. Help identify macro-economic risks to IFC investments and strategies to mitigate them.
• Lead, review, coordinate macro-economic analysis to support IFC investment operations including due diligence. Draft and peer review relevant sections of IFC Board papers including country context and strategic fit.
• Provide intellectual and technical leadership on topics of economic or strategic relevance to IFC, and produce policy and technical notes, briefs, presentations, and country reports for as requested by country management.
• Lead, contribute, and review Country Private Sector Diagnostics, Country Climate Development Reports, and provide IFC input to WBG Country Engagement products, including Country Partnership Frameworks, Progress and Learning Reviews and other joint initiatives.
• Serve as liaison with local and HQ World Bank teams (esp. CMU, EFI), IMF, and other development partners on the ground as well as client governments to help ensure that IFC engagements are aligned with WBG strategies and government development strategies.
• Lead the support for IFC Country Managers and teams in the country cluster to develop IFC country strategies/ strategy updates to help maximize IFC development impact.
• Support the development of industry strategies in the region. Monitor and support the implementation of Country Private Sector Diagnostic recommendations, sectoral deep dives, and policy reform implementation.
• Facilitate interaction and exchange of expertise and knowledge with the broader IFC Economics VPU and CAF Region. Lead on analytical work/ research on selected topics that inform IFC country programs and strategies as well overall PSD research agenda.
• Mentor and support junior colleagues with technical and professional leadership.
Selection Criteria
• Master’s or Ph.D. degree in economics/international development/ public policy or business/finance, with strong grounding in economics both from academic and practical experience perspective with a minimum of 10+ years (PhD with 7+ years) of relevant professional experience.
• Strong analytical skills in macroeconomic, fiscal, trade policy and growth analysis, including related to climate change.
• Demonstrated leadership in applying economic theory and concepts, and to contribute to discussions with internal clients on topics of economic or strategic relevance.
• Solid understanding of IFC project cycles, approval/decision processes, and key drivers of IFC business decision making as well as knowledge and understanding of key IFC/WBG products and instruments and how they are deployed to pursue private sector development and country engagement.
• Experience in and strong knowledge of the economic context and challenges of countries in Africa.
• Demonstrated leadership qualities, initiative, and results orientation, with effective teamwork and mentoring skills.
• Excellent written and verbal communication skills and ability to communicate effectively with high level stakeholders in English (French desirable).
World Bank Group Core Competencies
The World Bank Group offers comprehensive benefits, including a retirement plan; medical, life and disability insurance; and paid leave, including parental leave, as well as reasonable accommodations for individuals with disabilities.
We are proud to be an equal opportunity and inclusive employer with a dedicated and committed workforce, and do not discriminate based on gender, gender identity, religion, race, ethnicity, sexual orientation, or disability.
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