Eurogroup President Pascal Donohoe Resigns to Take Senior Role at the World Bank

Pascal Donohoe, President of the Eurogroup and Ireland’s Minister for Public Expenditure, has officially resigned to assume a top leadership position at the World Bank. His spokesperson confirmed the development to AFP on Tuesday, noting that Donohoe informed Ireland’s cabinet of his decision before the announcement was made public.

Donohoe, 51, will now take up the role of Managing Director at the Washington-based financial institution. His departure marks the end of his influential tenure at the Eurogroup — a key forum of eurozone finance ministers — where he has served since 2020. During his leadership, he played a significant role in shaping EU economic policy, especially through the pandemic recovery and ongoing financial reforms across the bloc.

His new appointment at the World Bank places him at the heart of global economic development initiatives, where he is expected to bring years of experience in fiscal policy, international finance, and European economic governance.