|Minister of Economy of Argentina|
August 6, 1996 – December 10, 1999
|Preceded by||Domingo Cavallo|
|Succeeded by||José Luis Machinea|
|President of the Central Bank of Argentina|
February 5, 1991 – August 4, 1996
|Preceded by||Javier González Fraga|
|Succeeded by||Pedro Pou|
April 30, 1947 |
|Alma mater||National University of Córdoba
University of Chicago
Roque Benjamín Fernández (born April 30, 1947) is an Argentine economist, former President of the Central Bank, and Economy Minister, as well as the only member of the Chicago Boys ever to have been the chief economic policy maker in Argentina.
Fernández was born in Córdoba, Argentina and holds a CPA from the National University of Córdoba and a PhD in Economics from the same university. In 1973 he obtained a scholarship from the Ford Foundation and went on to earn a PhD in Economics from the University of Chicago in 1975.
Since its foundation in 1978, he has been a member of the board of directors and faculty of the Universidad del CEMA, where he taught Monetary Theory. Fernández was appointed President of the Central Bank of Argentina on February 5, 1991, by recommendation of the new Economy Minister, Domingo Cavallo. As such, he was instrumental in managing the Argentine Currency Board that served as a guarantor of Cavallo's Convertibility Plan in its early years, and which helped maintain a 1:1 parity between the Argentine peso and the US dollar. He remained at the post until August 4, 1996, when President Carlos Menem removed Cavallo following a political dispute, and Fernández became Minister of the Economy on August 6, 1996, serving in that capacity until Menem's retirement on December 10, 1999.
During his tenure, Fernández earned plaudits for helping maintain a steady exchange rate and zero inflation, and doing so despite repeated international shocks, such as the Mexican, Asian, and Russian financial crises. He came under scrutiny, however, for favorable treatment reportedly meted out to fugitive banker Raúl Moneta in the form of forbearance towards a US$26 million tax debt; Moneta had earlier fled the country on racketeering changes.1
Fernández is currently Professor of Macroeconomic Analysis (graduate) and Macroeconomics I (undergraduate) at UCEMA. He was also visiting professor in the University of Southern California, Florida International University, Universidad de Chile, Universidad Católica de Chile, and has worked as a consultant and economist for the World Bank and the International Monetary Fund. His major areas of interest are banks, financial systems in developing nations, fiscal and monetary policy, exchange rate policy, balance of payments and financial crisis.
As a researcher, he is author of several books and publications, including articles in the American Economic Review and Journal of Political Economy. He is a member of the Academia Nacional de Ciencias Economicas.
- Statement by Mr. Roque B. Fernández at the IMF meeting in 1999
- Roque Fernández at IDEAS
- Roque Fernández in Fortuna Magazine
Javier González Fraga
|President of the Central Bank of Argentina
|Minister of Economy
José Luis Machinea