Department of Finance official to join IMF as Ireland’s representative

A senior official at the Department of Finance and liaison with the International Monetary Fund during the bailout programme will join the Washington-based fund as Ireland's representative in the summer.

Michael McGrath, assistant secretary in the department's EU and international division, will move to the fund as alternate executive director for the organisation's Canada, Ireland and the Caribbean section, replacing former Irish financial regulator Mary O'Dea, who moves to the World Bank, the IMF's sister organisation.

Ms O’Dea, who moved to Washington from the office of the Financial Regulator in July 2011, will complete her stint at the IMF this summer to become Ireland’s representative at the World Bank, paving the way for Mr McGrath to replace her at the fund on a three-year assignment.

The role at the IMF is a position that alternates between the Central Bank and the department. Mr McGrath will work closely with IMF executive director Tom Hockin, a former Canadian minister.

Ms O’Dea held the position at the IMF during most of Ireland’s bailout programme.

She became acting chief executive of the Financial Regulator after the departure of Pat Neary at the height of the banking crisis and was the regulator's director general of financial operations before moving to Washington.