Ricardo Reis's Chief Economist Candidacy at the International Monetary Fund Cancelled
The International Monetary Fund dropped economist Ricardo Reis, a critic of US President Donald Trump's policies, from its chief economist candidacy at the last minute.
The International Monetary Fund dropped economist Ricardo Reis, a critic of US President Donald Trump's economic and tariff policies, from its chief economist candidacy at the last minute. Abandoning the appointment it was preparing to announce at the beginning of summer, the Fund appointed Silvana Tenreyro to the post.
Candidacy Cancelled at the Last Minute
The International Monetary Fund took a step back at the final stage while preparing to announce the appointment of London School of Economics Professor Ricardo Reis as Director of the Research Department and Economic Counsellor at the beginning of the summer.
Criticisms Cited as the Reason
According to sources close to the matter, the last-minute change in the appointment was driven by Reis's past critical statements regarding Donald Trump's customs tariffs.
The Name Appointed to the New Position
Following this development, the IMF appointed Silvana Tenreyro, a former policymaker at the Bank of England and LSE faculty member, to the position in July. Tenreyro assumed office as of August 10.
Warnings Regarding Trump's Policies
Reis, well-known in Portugal and international media, had stated that Trump's customs tariffs would drive up prices for US consumers and trigger a new wave of inflation.
Internal Institutional Balance and Statements
While the US's informal influence over the Fund drew attention, an IMF spokesperson avoided making a direct statement, noting that they follow a strict policy of confidentiality regarding candidates' identities and process details.