Pedro Sánchez has announced that Carlos Cuerpo, secretary general of the Treasury and International Finance, will replace Nadia Calviño at the head of the Ministry of Economy, Enterprise and Trade, following her departure to chair the European Investment Bank (EIB). On the other hand, the Minister of Finance, María Jesús Montero, the PSOE’s number two and until now fourth vice-president, will become first vice-president.
The new minister holds a degree in Economics from the University of Extremadura, a PhD in Economics from the Autonomous University of Madrid and a master’s degree from the London School of Economics. He joined the Cuerpo Superior de Técnicos Comerciales y Economistas del Estado in 2008.
Between 2008 and 2011 he worked as an analyst in the Directorate General for Macroeconomic Analysis and International Economics. He also worked as a national expert in the Directorate-General for Economic and Financial Affairs at the European Commission between 2011 and 2014, where he was responsible for monitoring and analysing the real estate market and private sector debt patterns.
Between 2014 and 2020, the new Minister for the Economy also worked at the Independent Authority for Fiscal Responsibility (AIReF), first as Deputy Director of Public Debt and then as Director of the Economic Analysis Division. As of February 2020, Cuerpo was appointed Director General of Macroeconomic Analysis at the Ministry of Economic Affairs and Digital Transformation.
