The IMF was preparing to announce Portuguese economist Ricardo Reis as the institution's new chief economist, but backed away from the decision after finding old statements in which he criticized the impact of tariffs imposed by Donald Trump. Reis's criticisms of the US president's tariff policies reportedly weighed on the decision not to proceed with the appointment.
Ricardo Reis is an internationally recognized Portuguese economist, with academic ties to the London School of Economics. His potential appointment to the position of IMF chief economist would have represented a signal of continuity in the institution's leadership, which has its current holder, Pierre-Olivier Gourinchas, also Portuguese.
The IMF's decision to back away from the appointment comes amid heightened tensions between the institution and the Trump administration, which has been applying steep tariffs on several countries. Appointing an economist who had publicly positioned himself against these policies may have been considered counterproductive to the Fund's relationship with the United States.
The position of IMF chief economist is considered one of the most influential roles in the global economy, responsible for guiding the institution's analyses and projections. The decision to back away from Reis's nomination raises questions about the extent to which political considerations influence the selection of leaders at international financial institutions.
