Guido Sandleris (born 11 May 1971) is an Argentine economist who was President of the Central Bank of Argentina.

Early life and education

Sandleris was born to a middle-class

Jewish Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...

family in

Buenos Aires Buenos Aires ( or ; ), officially the Autonomous City of Buenos Aires ( es, link=no, Ciudad Autónoma de Buenos Aires), is the capital and primate city of Argentina. The city is located on the western shore of the Río de la Plata, on South ...

Argentina Argentina (), officially the Argentine Republic ( es, link=no, República Argentina), is a country in the southern half of South America. Argentina covers an area of , making it the second-largest country in South America after Brazil, th ...

. His grandfather had immigrated from Lithuania. He graduated from the

University of Buenos Aires The University of Buenos Aires ( es, Universidad de Buenos Aires, UBA) is a public university, public research university in Buenos Aires, Argentina. Established in 1821, it is the premier institution of higher learning in the country and one o ...

, received a masters from the

London School of Economics , mottoeng = To understand the causes of things , established = , type = Public research university , endowment = £240.8 million (2021) , budget = £391.1 millio ...

, and holds a doctorate from

Columbia University Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...

. He taught Economics at

Johns Hopkins University Johns Hopkins University (Johns Hopkins, Hopkins, or JHU) is a private university, private research university in Baltimore, Maryland. Founded in 1876, Johns Hopkins is the oldest research university in the United States and in the western hem ...

and

Torcuato di Tella University The Torcuato Di Tella University (''Universidad Torcuato Di Tella'', commonly referred to as UTDT or La Di Tella) is a non-profit private university founded in 1991. Located Buenos Aires, Argentina, it is focused primarily on social sciences. The ...

Private sector

In the private sector, he carried out consulting and research work for the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

, the

Inter-American Development Bank The Inter-American Development Bank (IDB or IADB) is an international financial institution headquartered in Washington, D.C., United States of America, and serving as the largest source of development financing for Latin America and the Caribb ...

, the General Treasury Office and in investment banks and Latin American governments in general.

Public sector

He was an advisor to the

Minister of Economy A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", ...

José Luis Machinea José Luis Machinea (born October 5, 1946) is an Argentine economist and United Nations official. He was Minister of Economy and President of the Central Bank. Career Machinea was born in Buenos Aires, and earned a degree in Economics from the ...

(1999-2001). Before taking charge of the

Central Bank of Argentina The Central Bank of the Argentine Republic ( es, Banco Central de la República Argentina, BCRA) is the central bank of Argentina, being an autarchic entity. Article 3 of the Organic Charter lists the objectives of this Institution: “The bank ...

in September 2018, he served as Secretary of Economic Policy of the

Ministry of Treasury A ministry of finance is a part of the government in most countries that is responsible for matters related to the finance. Lists of current ministries of finance Named "Ministry" * Ministry of Finance (Afghanistan) * Ministry of Finance and Ec ...

since 2016.

Central Bank of Argentina

He assumed the presidency of the

after the resignation of Luis Caputo at an extremely difficult time. As of October 2018, it implemented a strict monetary scheme that included a contraction plan for the

monetary base In economics, the monetary base (also base money, money base, high-powered money, reserve money, outside money, central bank money or, in the UK, narrow money) in a country is the total amount of money created by the central bank. This include ...

based on high

interest rates An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, th ...

(from 60% to 70%). He launched the Liquidity Letters, a tool from the Central Bank to limit the amount of money circulating in order to reduce

inflation In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reductio ...

. In his administration, he applied exchange bands where the

dollar Dollar is the name of more than 20 currencies. They include the Australian dollar, Brunei dollar, Canadian dollar, Hong Kong dollar, Jamaican dollar, Liberian dollar, Namibian dollar, New Taiwan dollar, New Zealand dollar, Singapore dollar, U ...

could float freely. This was backed by the

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...

and worked perfectly until the outcome of the 2019 primary elections, when

Argentine peso The peso (established as the ''peso convertible'') is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using peso or dollar currencies. It is subdivided into 100 '' centavos''. Its ISO 4 ...

was devaluated 25%. After this new

devaluation In macroeconomics and modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national curren ...

, he restricted the purchase of foreign currency by companies, and limited the purchase of dollars by individuals to a maximum of US $10,000 per month. After the october general election, restrictions restricted the purchase of dollars to 200 per month. He presented his resignation from the Central Bank with an inflation rate of 53% a few days before

Alberto Fernández Alberto Ángel Fernández (; born 2 April 1959) is an Argentine politician, lawyer and professor, serving as president of Argentina since 2019. Born in Buenos Aires, Fernández attended the University of Buenos Aires, where he earned his law ...

's arrival.

Other activities

Financial Stability Board The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established after the G20 London summit in April 2009 as a successor to the Financial Stability Forum ...

(FSB), Ex-Officio Member of Standing Committee on Assessment of Vulnerabilities (since 2018) * Central American Bank for Economic Integration (CABEI), Ex-Officio Alternate Member of the Board of Governors (since 2018) *

Inter-American Investment Corporation The Inter-American Development Bank (IDB or IADB) is an International financial institutions, international financial institution headquartered in Washington, D.C., United States of America, and serving as the largest source of development finan ...

(IIC), Ex-Officio AlternateMember of the Board of Governors (since 2018) *

(IMF), Ex-Officio Alternate Member of the Board of Governors (since 2018) *

, Ex-Officio Alternate Member of the Board of Governors (since 2018) *

Multilateral Investment Guarantee Agency The Multilateral Investment Guarantee Agency (MIGA) is an international financial institution which offers political risk insurance and credit enhancement guarantees. These guarantees help investors protect foreign direct investments against ...

(MIGA),

World Bank Group The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Grou ...

, Ex-Officio Alternate Member of the Board of Governors (since 2018)Board of Governors

(MIGA),

References

{{DEFAULTSORT:Sandleris, Guido Living people Argentine people of Lithuanian-Jewish descent University of Buenos Aires alumni Columbia University alumni Alumni of the London School of Economics Johns Hopkins University faculty Presidents of the Central Bank of Argentina 21st-century Argentine economists Argentine Jews Jewish economists 1971 births