Rafael Romeu

Senior Associate (Non-resident), Project on Prosperity and Development
Rafael Romeu

Rafael B. Romeu has worked for over 20 years as a financial economist and is the president and CEO of DevTech Systems, Inc. Under his leadership, DevTech expanded its reach to over 100 countries and broadened its client base to include the private and philanthropic sectors, U.S. subnational governments, and foreign governments. His technical work includes engagements with the Kingdom of Saudi Arabia and addressing the 2016 Puerto Rico default. Before DevTech, Dr. Romeu was an economist at the International Monetary Fund (IMF), contributing to high-profile cases like that of Spain during the European financial crisis and others including Venezuela, Jamaica, and Armenia. His expertise focuses on developing fiscal policies, sustainability of debt, and modeling sovereign commodity revenue funds. He also co-led the IMF's Public Finances in Modern History project. Previously, Dr. Romeu held roles at the Federal Reserve Board of Governors and the Central Bank of Venezuela. He has taught financial theory at Yale University and machine learning at American University. He has published research on fiscal policy sustainability, economic development in Latin America and the Caribbean, and financial market microstructure.

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Thinking Outside the Toolbox

The United States can be a better partner to developing countries by using non-grant tools to help unlock private capital and build up financial sectors, putting nations on a path toward self-sufficiency and away from dependency on China.

Report by Daniel F. Runde, Rafael Romeu, and Austin Hardman — December 13, 2024

Reintroducing Concessional Loans into the Development Toolbox

China is exploiting nations by swapping debt for equity. Enabling a solution for the global debt crisis may require the United States to incorporate loans into its international development strategy.

Report by Daniel F. Runde, Rafael Romeu, and Austin Hardman — August 20, 2024

AI in the Field of Economic Development

This panel discussion will analyze how economic development agencies and organizations can harness the potential of AI technology while ensuring robust safeguards. Listen to experts explore the strategies and principles necessary to navigate this transformative landscape responsibly. 

Event — June 25, 2024

The Emerging Global Debt Crisis and the Role of International Aid

The world’s poorest countries are facing a growing debt crisis. The response from the U.S. government should be to develop strategies to provide immediate relief and engage in long-term efforts to address systemic debt vulnerabilities and debt workouts.

Commentary by Rafael Romeu — April 18, 2024