The International Monetary Fund has appointed Argentine Silvana Tenreyro as its next chief economist and director of the research department. Tenreyro, a professor at the London School of Economics, will take up the position on August 10.
The International Monetary Fund (IMF) announced on Tuesday the appointment of Argentine economist Silvana Tenreyro as its new chief economist and director of the research department. Tenreyro, who also holds Italian and British nationalities, will succeed Pierre-Olivier Gourinchas, who is returning to academia.
Silvana Tenreyro's Career
Tenreyro is a professor of Economics at the London School of Economics (LSE) and has an extensive career in the field of monetary policy. From 2017 to 2023, she was an external member of the Monetary Policy Committee of the Bank of England, where she participated in decisions regarding interest rates in the UK.
Previously, she worked as an economist at the Federal Reserve Bank of Boston and was part of the Monetary Policy Committee of the Bank of Mauritius. Currently, she is a member of the external advisory group to the IMF's managing director, Kristalina Georgieva, and collaborates with leading public and private institutions on economic and financial issues.
Tenreyro obtained her PhD and master's degree in Economics from Harvard University, after graduating in Argentina. She is married to economist Francesco Caselli, chair of the academic council at the LSE.
Challenges in a Context of Global Uncertainty
The chief economist of the IMF oversees the preparation of the Fund's periodic economic reports, such as the 'World Economic Outlook', and is one of the Fund's main voices on global economic prospects. Her work has been complicated in recent years by challenges such as the Covid-19 pandemic, changes in US tariffs, and the war in the Middle East.
In the words of Kristalina Georgieva: "At a time of profound transformation and increased uncertainty in the global economy, Silvana's combination of intellectual leadership and policy experience will help ensure that the Fund's analytical work, as well as its multilateral oversight and policy advice, remain at the forefront in support of our members."
"Her work has significantly contributed to our understanding of how diversification and the nature of shocks determine growth and well-being in both emerging and advanced economies," said Moritz Schularick, president of the Kiel Institute, when awarding her the Bernhard Harms Prize last year.
Appointment and Relevance for Spain
Tenreyro will take up her position on August 10. For emerging and advanced economies, her appointment represents a reinforcement of the focus on economic volatility and the transmission of monetary policy, areas in which she has extensively researched. In the Spanish context, where inflation and interest rates remain central issues, the new chief economist of the IMF will play a key role in advising on policies affecting the eurozone.
The IMF has highlighted that Tenreyro will bring "intellectual leadership" at a time of "profound transformation" globally. Her experience at the Bank of England and her knowledge of Latin American economies may prove valuable in addressing current imbalances.
The appointment also has a symbolic component: Tenreyro is the first Argentine woman to hold this position, and her profile combines academia with experience in central banks from various countries. Her trajectory reflects an increasing diversity at the top of the IMF, although the path to gender parity in high-level international economic positions is still long.
The new chief economist will take the reins of the research department at a time when the IMF seeks to balance economic growth with financial stability, in a scenario marked by geopolitical fragmentation and climate challenges.
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