FROM THE OFFICE OF PUBLIC AFFAIRS

UNDER SECRETARY FOR INTERNATIONAL AFFAIRS

The United States Senate last night voted to confirm David A. Lipton as the Under Secretary of the Treasury for International Affairs.

As Under Secretary of the Treasury for International Affairs, Mr. Lipton advises and assists the Secretary and Deputy Secretary on all aspects of international economic policy. As Assistant Secretary of the Treasury for International Affairs since December 1995, Mr. Lipton focused on international and economic policy coordination; economic and financial relations with both industrialized and developing countries; foreign investment in the United States and the U.S. policy with respect to the International Monetary Fund and the multilateral development banks. Prior to this position, Mr. Lipton was the Deputy Assistant Secretary for Eastern Europe and the former Soviet Union. During this time, he worked to design and implement a policy of U.S. leadership in support of comprehensive, market oriented reform in the economies in transition and worked to engage the G-7 and the international financial institutions in pursuit of multilateral backing for that historic process.

Prior to joining the Clinton administration in the spring of 1993, Mr. Lipton was a Fellow at the Woodrow Wilson Center of Scholars. From 1989 until 1992, working under the auspices of the United Nations Development Program and the World Institute for Development Economics Research, he was an economic advisor to the governments of Russia, Poland, and Solvenia. Mr. Lipton was an economist at the International Monetary Fund from 1981-1989.

Mr. Lipton was born on November 9, 1953 in Boston, Massachusetts. He received a B.A. in Economics from Wesleyan University and both an M.A. and a Ph.D. in Economics from Harvard University. He is married to Susan Galbraith and has three children.