Pierre-Olivier Gourinchas to step down as IMF Economic Counsellor, return to academia in July

Pierre‑Olivier Gourinchas will step down as Economic Counsellor and Director of the Research Department at the International Monetary Fund, effective July 1, 2026, and return to the University of California, Berkeley.IMF Managing Director Kristalina Georgieva announced the decision, praising Gourinchas for providing “exceptional intellectual leadership” during a period marked by post-pandemic recovery, rising global inflation, and intensifying geopolitical tensions. She noted his role in ensuring the Fund’s analysis remained rigorous and relevant for member countries.

Since joining in 2022, Gourinchas led the Research Department through a volatile global environment, delivering policy-focused analysis and maintaining high standards in flagship publications such as the World Economic Outlook and the External Sector Report. His work strengthened the IMF’s ability to evaluate global spillovers, risks, and policy trade-offs.
Under his leadership, the department advanced research on geo-economic fragmentation, global inflation drivers, and imbalances. He also supported innovation through initiatives including the AI Preparedness Index, Structural Reforms Impact Tool, and RES DataHub, alongside efforts to develop next-generation macroeconomic models.Gourinchas played a key advisory role in IMF surveillance and programme work, helping ensure policy guidance remained both analytically sound and operationally effective. His recent work on alternative economic scenarios related to the Middle East conflict informed discussions during the Spring Meetings.

Georgieva also highlighted his commitment to staff development and inclusive leadership, noting his efforts to foster collaboration and intellectual curiosity within the department.

His tenure is widely associated with strengthening analytical capacity during uncertain times.

The IMF expressed gratitude for his service and wished him success in his academic return.