Tobias Adrian

Financial Counsellor and Director, IMF Monetary and Capital Markets Department

Appears in 1 story

Born: 1971, Kronberg im Taunus

Education: Massachusetts Institute of Technology, London School of Economics and Political Science, Goethe University Frankfurt

Last updated Nov 2, 2026

Stories

Emerging markets now depend on fast-moving investors for 80% of foreign debt, IMF warns

Money Moves

As of May 2026: Oversees the Global Financial Stability Report

Twenty years ago, developing countries borrowed from international banks; today, roughly 80 percent comes from hedge funds, pension funds, insurers, and other non-bank investors — entities that exit far faster than banks. The IMF warns in its April 2026 Global Financial Stability Report that nearly $4 trillion in cumulative portfolio investment has flowed into emerging markets since 2008, much from institutions with little obligation to stay.

Updated May 30