Alicia Hierro is a Senior Economist at the Balance of Payments Division of the IMF Statistics Department (STA). She has been working in STA since 2009 including at its Financial Institutions Division. Prior to her work at the IMF, she worked in the Bank of Spain as financial controller and as balance of payments compiler, contributing among others to the launch of the CPIS. Mrs. Hierro has a master’s degree in Economics and Business Administration from the Complutense University, Madrid.