Warren Coats has a BA degree in economics from the University of California, Berkeley and MA and Ph.D degrees in economics from the University of Chicago. After five years as an assistant professor of economics at the University of Virginia, he joined the IMF in 1976. He became chief of the SDR division in the Finance Department in 1983 and was Assistant Director of the Monetary and Capital Markets Department (MCM) when he retired in May 2003 to become a Director of the Cayman Islands Monetary Authority (2003-10). Dr. Coats was a visiting economist at the Board of Governors of the Federal Reserve System in 1979 and was seconded to the World Bank for one year to help write the 1989 World Development Report on Financial Systems.
From the SDR division of the Finance Department, Dr. Coats rejoined what is now MCM in the IMF in January 1992 and almost immediately led a technical assistance mission to Bulgaria followed by back-to-back missions to Kazakhstan and Kyrgyzstan in April of that year. Thus began an intensive program of developing new central banks and currencies that has lasted beyond his retirement. Dr. Coats has led more than 70 missions that have produced practical advice and assistance to central banks, often under crisis conditions. These include missions to Afghanistan, Albania, Bosnia and Herzegovina, Bangladesh, Bulgaria, Croatia, Czech Republic, Egypt, Hungary, Israel, Kazakhstan, Kenya, Kosovo, Kyrgyz Republic, Malta, Moldova, Nigeria, Slovak Republic, Slovenia, Turkey, the West Bank and Gaza Strip, the Federal Republic of Yugoslavia and Zimbabwe. He supervised the establishment of new central banks in Bosnia and Herzegovina, and the West Bank and Gaza Strip, and the reestablishment, transformation, and development of the payment and banking systems in Kosovo, and helped Kazakhstan, Kyrgyzstan, and later Bosnia and Herzegovina introduce their own currencies.
Dr. Coats’ work on banking sector issues in Moldova, Bulgaria, Croatia, Turkey and Yugoslavia has provided him with the practical experience reflected in his several articles on banking sector soundness issues (including several papers on Bank Insolvency Law). He has also written on various monetary theory and policy issues, including electronic money and inflation targeting. He edited a book on Inflation Targeting in Transition Economies published by the IMF and the Czech National Bank and co edited a book on the same subject published by the Czech National Bank in 2003. His book, One Currency for Bosnia: Creating of the Central Bank of Bosnia and Herzegovina, was published in August 2007 by Jameson Press, Ill. His books on Afghanistan, Iraq, Palestine, and the Former Soviet Union are available on Amazon: Books by Warren-Coats
After retiring from the IMF, Dr. Coats was Sr. Monetary Policy Advisor to the Central Bank of Iraq in 2004-5, helped South Sudan prepare to issue and manage its own currency when it became independent on July 9, 2011 (with Deloitte/USAID) and was a consulting member of the IMF program team for Afghanistan from Sept 2010 to Dec 2013. He was a Director of the Cayman Islands Monetary Authority from 2003-10 and a member of the Editorial Board of the Cayman Financial Review 2010 - 17. In March 2019 he was named the Central Banking Journal’s first recipient of its award for Outstanding Contribution for Capacity Building at central banks. He is currently a fellow of Johns Hopkins Krieger School of Arts and Sciences, Institute for Applied Economics, Global Health, and the Study of Business Enterprise.