José Rojas is Executive Director at the World Bank Group. Previously, he was the Executive Director at the International Monetary Fund, and Executive Director at the World Bank (2006-2010).
Mr. Rojas was Advisor to the President of the Central Bank of Venezuela (2005-2006), and Vice-President of Petróleos de Venezuela, PDVSA. In this capacity, he reestablished and restructured the auditing and internal control department and processes, and updated and completed PDVSA’s financial statements for the periods 2002 through 2004. He conducted the liability management process, and repurchased US$2.6 billion of PDVSA’s debt with savings of US$1.6 billion. This completed the resolution and stabilization of PDVSA’s financial situation avoiding Venezuela’s default.
In 2001, he was Executive Director at the Inter-American Development Bank and the Inter-American Investment Corporation. Previously, he served as Minister of Finance of the Republic of Venezuela (1999-2001) where he designed and implemented an inflation, targeting fiscal and budgetary policy. He completed the automation and digitalization of the Treasury, and the external debt records and the debt management processes. On the financial and macroeconomic stance, he completed the reduction of inflation from 24 to 11 percent/annum, an average GDP growth of 3.5 percent for three years, real positive interest rates, exchange rate stability with a band floating regime and control of volatility. He has conducted a fiscal balance policy achieving a primary financial surplus and a deficit of less than 2 percent and implemented the macroeconomic stabilization fund savings for approximately US$8 bn.
Jose Rojas initiated and designed the modernization of the custom system throughout UN cooperation while adopting SIDUNEA. On Banking Policy, he completed the reduction in the size of the banking and financial sector through the law of mergers, resulting in a sound and efficient system. He has been Deputy Minister and Senior Economist at the Ministry of Hacienda for 1997-1999.
José Rojas has worked as an international consultant in his areas of professional specialization: econometrics, mathematical economics, finance, banking and risk. He has work as consultant in Economics, Econometrics, and Finance matters for the United Nations, UNDP Venezuela. He tought at the Universidad Central de Venezuela.
Mr. Rojas holds a PhD "Tres Honorable" from the Universidad Pantheon-Assas Paris II (1993, Sorbonne, Paris). In 1988, Jose Rojas obtained a Master's degree in Mathematical Economics and Econometrics. He graduated from the Universidad Central de Venezuela in 1983 with a BA in Mathematical Statistics. He also completed training in energy economics, senior company management, and energy models at the French Petroleum Institute (Institut Français du Petrole, 1987). Jose Rojas speaks English, French, and Spanish.