IMF ditched top candidate for chief economist job after Trump criticism

By the Editorial Team · Friday, September 11, 2026

The IMF reversed its decision to appoint Ricardo Reis as chief economist after concerns arose over his public criticism of former President Trump’s tariff policies, ultimately selecting Silvana Tenreyro for the role. This change highlights the significant influence of the U.S. government on IMF appointments and reflects ongoing tensions over the fund’s strategic priorities and stance on trade issues.

The International Monetary Fund (IMF) abandoned its leading candidate for the role of chief economist shortly before an expected announcement, after concerns arose over his criticism of former President Donald Trump’s trade policies, according to individuals familiar with the matter.

Ricardo Reis, a professor at the London School of Economics (LSE), was widely anticipated to be appointed as the IMF’s economic counsellor and head of research. However, the Washington-based fund reversed course at the last minute following scrutiny of comments Reis made about Trump’s tariff measures. Reis had publicly warned that the tariffs implemented by the Trump administration would increase costs for American consumers and potentially fuel inflationary pressures.

The position was ultimately filled by Silvana Tenreyro, another prominent LSE economist and former Bank of England policymaker, who began her tenure last month. Tenreyro has also expressed concerns about the adverse impact of tariffs on economic growth but has been less outspoken than Reis in criticizing the Trump administration.

IMF Managing Director Kristalina Georgieva oversees key senior appointments at the fund, but as the largest shareholder nation, the United States exerts substantial informal influence over hiring decisions. This dynamic reportedly contributed to the sudden change in appointment plans. The episode occurred amid broader tensions between the IMF and U.S. Treasury officials, particularly regarding the fund’s strategic focus. After pressure from U.S. Treasury Secretary Scott Bessent, Georgieva shifted the IMF’s emphasis away from issues such as gender and climate change to prioritize its traditional mandates of macroeconomic and financial stability.

The removal of Reis from contention prompted concern among some insiders about whether the chief economist role would be filled by an individual perceived as closer to the Trump administration. Those worries diminished with Tenreyro’s eventual appointment.

This incident echoes previous episodes in which economists critical of Trump’s trade policies faced pushback. Last year, Trump reportedly urged Goldman Sachs to dismiss chief economist Jan Hatzius after Hatzius highlighted the negative economic consequences of tariffs.

The IMF declined to comment specifically on the decision-making process for the chief economist role, describing the selection as "rigorous and competitive." Reis also chose not to comment on the matter.

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