Currently, Dr. Yinager Dessie Belay serves as Senior Advisor at the Trade and Development Bank Group in Nairobi, where he provides strategic macroeconomic and financial sector counsel to the Group’s President and supports member states across Eastern and Southern Africa.
Dr. Yinager is widely recognized for his tenure as Governor of the National Bank of Ethiopia (2018–2023), during which he also served as IMF Governor for Ethiopia. In this capacity, he led Ethiopia’s engagement with the International Monetary Fund, including IMF Article IV consultations and the design and implementation of IMF-supported programs. He played a central role in shaping Ethiopia’s Home-Grown Economic Reform Program, which laid the foundation for macroeconomic stabilization, structural reform, and renewed international confidence. As central bank governor, he provided strategic leadership on monetary policy, exchange rate management, inflation control, debt sustainability, and financial sector reform. His tenure was marked by landmark policy reforms, including the liberalization of the banking sector to foreign participation, the expansion of collateral frameworks to include land-use rights, livestock, crops, and forests—benefiting more than 100,000 farmers and pastoralists—the introduction of Sharia-compliant banking, and active participation in telecommunications sector liberalization. Dr. Yinager also led Ethiopia’s macro-financial response during the COVID-19 crisis, helping preserve economic stability under exceptional global stress. His leadership during this period is often cited as an example of effective crisis management in a fragile and uncertain environment.
Prior to his central bank leadership, Dr. Yinager served as Minister at the National Planning Commission of Ethiopia (2016–2018), where he oversaw the preparation and implementation of annual and five-year national development plans. His work integrated macroeconomic, fiscal, sectoral, and financing frameworks, while strengthening monitoring and evaluation systems for national strategies. He represented Ethiopia at the United Nations High-Level Political Forum, presenting progress on the 2030 Sustainable Development Goals, and led Ethiopia’s engagement in the implementation of the Istanbul Programme of Action for Least Developed Countries. Earlier, as Vice Minister at the Ministry of Foreign Affairs (2013–2016), he played a key role in advancing Ethiopia’s economic diplomacy. His work contributed to increased foreign direct investment inflows and remittance mobilization, and he was instrumental in organizing and leading The 2015 Addis Ababa Action Agenda Conference, a landmark global event that reshaped international financing for development. Throughout his career, he has held numerous board and chairmanship positions, including Chair of the Commercial Bank of Ethiopia, Ethiopian Capital Market Authority, Ethiopian Commodity Exchange, and the Financial Intelligence Center. He has also served as a board member of major public institutions and utilities and as a trusted advisor to senior government leadership on macroeconomic and governance reforms.
Dr. Yinager holds a PhD in Social and Economic Sciences from the University of Natural Resources and Life Sciences (BOKU) in Vienna, Austria, an MA in Local and Regional Development from the International Institute of Social Studies at Erasmus University Rotterdam, and a BA in Economics from the Ethiopian Civil Service University. He has completed executive and short-term training programs at Harvard University, Yale University, the University of London, and other international institutions, with a focus on leadership, macroeconomic frameworks, exchange rate policy, and development finance. His contributions have been internationally recognized, including the Best Central Bank Governance in Africa Award (2021) from Capital Finance International and a United Nations Volunteer Office Award for his contribution to the UN Volunteer Program in Ethiopia.
He says his time at BOKU during his PhD studies funded by the APPEAR Programme was truly life-changing, “both for my professional career and for my broader understanding of the world”. The academic training he received—particularly in development theories and their real-world application—deepened his understanding of how these ideas have shaped global development paths, including that of his home country, Ethiopia. This intellectual foundation proved invaluable in the years that followed, especially during his service in senior leadership roles as a minister and later as a central bank governor. The perspectives he gained at BOKU helped inform his policy decisions, reform initiatives, and engagement with complex development challenges. He is deeply grateful to the Austrian government and the Austrian people, and in particular to APPEAR, for providing the opportunity to pursue his doctoral studies in Vienna. During his time at BOKU, he greatly appreciated the University’s cultural diversity and intellectually stimulating environment. Beyond academia, Vienna left a lasting impression on him. According to him, Vienna is one of the world’s most remarkable cities—rich in history, music, and culture—and it remains one of the aspects he cherished most during his stay in Austria. Finally, he would like to extend his sincere appreciation to the Centre for Development Research staff at BOKU and the whole BOKU community for their support and hospitality which made his academic journey both productive and memorable.
