Fabian Bornhorst is Deputy Chief in the Macro Policy Division in the Strategy, Policy and Review Department of the IMF. Before that he was the IMF’s Resident Representative in Brazil and in Bolivia, mission chief in the Western Hemisphere Department, and part of the surveillance teams for Germany and the euro area in the European Department, among others. Prior to joining the IMF in 2006 he was an Overseas Development Institute fellow in the Ministry of Finance in Namibia. His recent research focused on fiscal policy, including fiscal governance in the euro area, and on the interaction of public and private debt in deleveraging episodes. He obtained his PhD from the European University Institute in Florence, Italy.