He lectured at the Johns Hopkins University School of Advanced International Studies between 1986 and 1991, and was appointed the World Bank's Senior European and Central Asian Policy adviser in 1992, serving in that capacity during one of the most challenging years of the collapse of the Soviet Union.

Blejer, who took office at the depth of the worst local crisis since the Panic of 1890, was appointed not only for the good rapport he enjoyed with international figures such as United States Federal Reserve Chairman Alan Greenspan, Treasury Secretary Paul O'Neill and his Deputy, John B. Taylor, but also because he remained among the few prominent economists to be in good terms with a wide variety of Argentine political figures: he was recommended by Economy Minister Domingo Cavallo during the free market advocate's brief last turn at the post, and was close to diverse leaders such as center-left Congresswoman Elisa Carrió, and center-right economist Ricardo López Murphy (both these latter would be candidates in the April 2003 presidential elections).

[2] Blejer's appointment on January 21, 2002, was partly a result of Maccarone's link to the unpopular account withdrawal limits instituted the previous December, as well as to the latter's support for a more liberal bankruptcy law, which the nation's banks opposed.

[1] Fallout from the international, 2008 financial crisis later forced the Argentine government of President Cristina Kirchner to seek domestic financing for growing public spending, as well as for foreign debt service obligations.

Blejer, who remained in Argentina, contributed a number of op-ed columns for Clarín, the leading Argentine news daily; he expressed support for the Wall Street Reform and Consumer Protection Act signed in the United States by President Barack Obama, while citing the need for further regulation of the world's fitful financial markets.