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DATE: April 14, 2016

DAY: Thursday

4:15 PM - 5:15 PM

LOCATION: George Washington University, Jack Morton Auditorium

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Three major transitions present challenges to the global economy: an increase in U.S. interest rates, China’s shift to consumption-led growth, and lower commodity prices. Against this backdrop, many emerging markets face rising private debt and leverage. Such trends bring opportunities along with challenges. This session will look at the role of the global financial safety net and the international monetary system in helping to manage the current landscape.

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Fortifying the Global Financial Safety Net

Fortifying the Global Financial Safety Net


Moderator: Nemat Minouche Shafik

Ms. Nemat (Minouche) Shafik became Deputy Governor of the Bank of England in 2014, where she is jointly responsible for international surveillance, analysis and engagement. She represents the Bank in international fora, including the G20 (as Deputy), the IMF and BIS. Previously she was Deputy Managing Director of the IMF from 2011-2014, Permanent Secretary of UK’s DfID from 2008-2011 and a Vice President at the World Bank.

(as of April 2016)

Panelist: Pierre-Olivier Gourinchas

Prof. Gourinchas attended Ecole Polytechnique then received his PhD in Economics in 1996 from MIT. He taught at Stanford Graduate School of Business and Princeton Univ. before joining UC Berkeley dept. of economics. His main research interests are in international macroeconomics & finance. He is the laureate of the 2007 Bernàcer Prize and of the 2008 Prix du Meilleur Jeune Economiste. In 2012-2013, Mr. Gourinchas was a member of the French Council of Economic Advisors to the Prime Minister.
(As of April 2016)

Panelist: David Lipton

David Lipton assumed the position of First Deputy Managing Director of the International Monetary Fund on September 1, 2011. On March 28, 2016, he was reappointed for a second five-year term beginning September 1, 2016. Before coming to the Fund, Mr. Lipton was Special Assistant to the President, and served as Senior Director for International Economic Affairs at the National Economic Council and National Security Council at the White House. Previously, he was a Managing Director at Citi, and also served in the Clinton administration as Under Secretary of the Treasury for International Affairs — and before that as Assistant Secretary. Mr. Lipton earned a Ph.D. and M.A. from Harvard University in 1982 and a B.A. from Wesleyan University in 1975.

Panelist: Raghuram Rajan

Raghuram Rajan has been the Governor of the Reserve Bank of India since September 2013. He was chief economic advisor to India’s Ministry of Finance during the preceding year. He was the Economic Counselor of the IMF from 2003-2007. He is a professor of finance (on leave) at the Booth School of Business at the University of Chicago. Rajan received a Ph.D. in management from the MIT in 1991 for his thesis on banking.

Panelist: Rodrigo Valdes

Mr. Rodrigo Valdes is the Finance Minister of Chile since May 11, 2015. He served as Head – Argentina, Chile, Colombia, Peru and Chief Economist at Banco BTG Pactual S.A., Research Division until March 2014. He headed macroeconomics research within Andean region including Argentina, Chile, Colombia and Peru region. He joined the firm as a Chief Economist in January 2013. Mr. Valdés previously served as a Director of Research and Chief Economist at the Central Bank of Chile from 2002 to 2007. Joining the IMF in 2010, hee served as Deputy Director of the European Department and Deputy Director of the Western Hemisphere Department and mission chief for the US. Before joining the IMF, he was Barclays Capital’s Chief Economist for Latin America from 2008-09. He was the chief adviser to the Chilean Finance Minister from 2000-01.