Razzaz served with the World Bank in both Washington and the Mideast region, and was education minister in the outgoing government.
He also said political parties, unions and civil society groups must take part in the talks.
The International Monetary Fund (IMF) approved a three-year arrangement with Jordan in 2016 to support economic and financial reform, aiming to lower public debt and encourage structural change.
Jordanians continue to stage mass rallies despite the resignation of embattled Prime Minister Hani al-Mulki and the king's order for a full review of controversial tax reforms.
Around 2,000 protesters gathered close to the prime minister's office in central Amman, hours after premier Hani Mulki stepped down on Monday. Until Mulki took office, governments had repeatedly pushed back the increase in bread prices and tax changes.
Late Monday, the king had warned Jordan was "at a crossroads", blaming the economic woes on regional instability, the burden of hosting hundreds of thousands of Syrian refugees and a lack of global support.
Jordan which is a staunch United States ally with a peace treaty with Israel, has remained the one stable country throughout years of regional turmoil. Unemployment among Jordanians stands at 18.4 percent, according to the department of statistics.
"We don't want a change of names, we want a change in policy", one banner read.
While Razzaz's appointment has not yet been confirmed, the Harvard-educated economist has been referred to a more "likeable" character who is opposed to measures which hurt the poor, Reuters said.
The price hike and steep tax increases, which the government of Mulki introduced earlier in the year as mandated by the International Monetary Fund, are meant to cut into the debt.
Another, who gave his first name as Khalil, said Jordan's political system, which grants the monarchy vast executive powers, should become more democratic and accountable.
The protests widened on Saturday after Mulki refused to scrap a bill increasing personal and corporate taxes, saying it was up to parliament to decide.
While Jordan has remained relatively stable during recent periods of turmoil in the Middle East, the country's debt has reached $40 billion, equivalent to 95 percent of the country's GDP, and the country relies heavily on global aid. Critics claim the current tax plan unfairly hits the poor and the middle class.