Monday, April 6, 2009

IMF advisor to speak at GSU about global financial crisis today

Teresa Ter-Minassian, a special advisor to the managing director of the International Monetary Fund, will speak at Georgia State University at 2:30 p.m. Monday (April 6) in the 7th-floor seminar room of the Andrew Young School of Policy Studies. The former director of the IMF’s Fiscal Affairs Department will discuss the “Fiscal Implication of the Current Global Financial Crisis for Major Industrial and Emerging Market Countries” as the keynote speaker of the International Studies Program Lecture Series.

“Ter-Minassian’s presentation will focus in particular on the implications of the crisis for the public finances of the G-20 countries,” said Jorge Martinez-Vazquez, director of the International Studies Program.

British Prime Minister Gordon Brown announced Thursday (April 2) that the leaders of the G-20 nations agreed to supply an additional trillion dollars into the troubled economy by funding groups like IMF. The leaders plan to provide an additional $500 billion for the IMF, $250 billion in IMF Special Drawing Rights and $250 billion to boost trade.

“Ter-Minassian will highlight the challenge of reversing the crisis-related deterioration in the public finances over the medium-term, a task made more compelling by the prospective rising fiscal costs of population aging,” Martinez-Vazquez said.

The IMF is an organization of 185 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Among the organizations tasks are to provide policy advice to governments and central banks on analysis of economic trends and providing loans to help countries overcome economic difficulties.

Ter-Minassian has served in various positions at the IMF, including chief of the Southern European Division in the European Department, where she negotiated the 1983 IMF Stand-By Agreement with Portugal. She also served as deputy director of the Western Hemisphere Department, in which she headed the negotiations of the IMF programs with Brazil and Argentina.

Ter-Minassian’s areas of expertise include macroeconomic analysis, fiscal policy, budget management and intergovernmental fiscal relations. She has published several papers in these areas, including the book Fiscal Federalism in Theory and Practice.

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