The Argentine Silvana Tenreyro was appointed as the new chief economist of the IMF

In a move that positions Argentina at the center of global financial decisions, the International Monetary Fund (IMF) officially announced the appointment of economist Silvana Tenreyro as Economic Advisor to the Fund and Director of the Research Department (RES).

The announcement was made by the Managing Director of the organization, Kristalina Georgieva, who highlighted that the Argentine professional will assume her duties on August 10, succeeding Pierre-Olivier Gourinchas.

“I am pleased to announce that Silvana Tenreyro will join the Fund as our next Chief Economist”, stated Georgieva, emphasizing that her profile combines a “distinguished academic career with extensive experience in policy formulation”.

According to the head of the Fund, in a scenario of “profound transformation and increasing uncertainty in the global economy”, Tenreyro's intellectual leadership will be essential for the organization's policy advice to remain “at the forefront in support of our members”.

An International Career

Tenreyro's education and career exemplify a path of success forged in the most prestigious institutions in the world:

Foundational Education: She graduated as an economist from the National University of Tucumán.

Elite Postgraduate Degrees: She holds a master's and a PhD in Economics from Harvard University.

Experience in Central Banks: She was a member of the Monetary Policy Committee of the Bank of England from 2017 to 2023, and worked at the Federal Reserve Bank of Boston.

In this regard, the economist explained in a conversation with the press that: “in periods of high wage rigidity, decreases in interest rates have a much greater positive effect on employment and production”. Furthermore, along with colleagues such as Giovanni Olivei, she demonstrated that wages tend to be more rigid after negotiations, varying seasonally within and between countries.

Regarding macroeconomic stability, Tenreyro is a strong advocate for global integration. According to her research with Miklos Koren and Francesco Caselli, it was shown that “openness to international trade and technological growth can help economies diversify domestic shocks”.

This technical approach holds that wealthier and more open nations tend to be less volatile, as having external suppliers and buyers allows for “better diversification of risks to the economy”.

Beyond the numbers, Georgieva has praised the personal qualities of the Argentine, describing her as an “exceptional leader and communicator”, admired for her “thoughtful and collaborative leadership style” and her “ability to generate consensus while fostering rigorous debate”.

Tenreyro, who holds triple nationality (Argentine, British, and Italian), was serving as a professor at the London School of Economics prior to this appointment and was part of Georgieva's External Advisory Group. Starting in August, her voice will be the main reference for the IMF on global economic outlooks.

Awards and Honors: She has received the Yrjö Jahnsson Award, the Bernhard Harms Award, and the Birgit Grodal Award. Additionally, she received a distinction from the British Crown for her “service to the economy”, awarded through the Prime Minister's list for residents in Great Britain.

From an analytical perspective, Tenreyro has focused her research on how monetary policy impacts the real economy. Among her more technical definitions, she highlights her validation of theories regarding the importance of wage rigidities in the transmission of economic policies.