Offices

Treasury’s Office of International Affairs protects and supports U.S. economic prosperity by strengthening the external environment for U.S. growth, preventing and mitigating global financial instability, and managing key global challenges. There are 10 deputates within International Affairs:

Africa: The Office of African Nations develops and guides economic policy towards the 47 sub-Saharan African nations, and seeks to foster economic development and stability through relevant policies that can help stimulate growth and reduce poverty. Through the office's current policy efforts, Treasury is working to bolster regional infrastructure, strengthen the local capital markets and financial sector, improve the investment climate, and carry out President Obama’s food security initiative for low-income countries. The Africa Office’s representatives in the major multilateral development banks shape the terms of critical loans and development programs, and its advisors to African ministries and central banks provide technical assistance directly to local policymakers. Treasury’s activity on Africa is led by Andrew Baukol, and the office is directed by Dan Peters

Development Policy and Debt: The Office of Development Policy and Debt leads the U.S. government’s efforts to promote economic growth and poverty reduction in developing countries through engagement with the multilateral development banks, including the World Bank and the regional development banks. Lead by Deputy Assistant Secretary Scott Morris, the office works with the U.S. Congress and other government agencies to secure U.S. funding commitments to the multilateral development banks. The office also advises on potential reforms and innovative financing proposals for development, and formulates the U.S. position on issues coming before the Paris Club, an informal group of creditors who seek coordinated and sustainable solutions to payment difficulties for debtor countries.

Environment and Energy: The Office of Environment and Energy develops, coordinates, and executes the Treasury Department’s role in the domestic and international environment and energy agenda of the United States. It supports broader U.S. efforts to facilitate a smooth transition to a national and global economy powered by clean energy and to improve the national and global environment. The office leads U.S. environment and energy finance efforts in the G-20, assists the U.S. negotiating team on finance issues at U.N. climate negotiations, and manages U.S. interests and obligations in multilateral financial mechanisms that support environmental goals, including the Climate Investment Funds (CIF) at the World Bank and the Global Environmental Facility (GEF), as well as the Tropical Forest Conservation Act (TFCA). Finally, it leads the Department’s efforts to develop efficient and effective environmental and energy policies at the national level. The office is led by Dr. William A. (Billy) Pizer, Deputy Assistant Secretary for Environment and Energy.

Europe & Eurasia: The Europe and Eurasia deputate covers more than 50 economies from Reykjavik to Vladivostok and a dynamic array of financial issues in between. The region continues to feel the effects of the global financial crisis and immediate policy imperatives will focus on recovery and economic growth. Office priorities include: tracking the most fragile economies as they struggle with reform; monitoring more than $85 billion in IMF commitments to the region and regional multilateral development bank projects; launching a financial dialogue with Russia’s Finance Ministry; engaging West European policy makers on macroeconomic strategies for recovery; working with the countries in Central Asia on economic and financial reform; and, supporting international financial institutions as they develop a strategy to increase European energy security. Christopher Smart is Deputy Assistant Secretary for the region and Jeff Baker directs the Office.

International Monetary and Financial Policy:
The International Monetary and Financial group leads Treasury's work to promote sound international regulatory policy practices, support financial stability, and develop international economic policy engagement and coordination in the International Monetary Fund, the Group of 7/8 and the Group of 20 Ministerial and other supporting efforts. The group also leads the coordination of U.S. participation in the Financial Stability Board, and other various bilateral financial and regulatory dialogues. The group advises on currency legislation issues, prepares Treasury's Semi-annual Report on International Economic and Exchange Rate Policies, and analyzes and reports on world economic developments. Other responsibilities include administering the Exchange Stabilization Fund and Treasury International Capital data, and liaising with the Federal Reserve. The group is led by Deputy Assistant Secretary Mark Sobel. The offices include Global Economics, managed by John Weeks, the International Monetary Policy Office, managed by Clay Berry; the Office of International Banking and Securities Markets, led by Bill Murden; and the Markets Room, managed by Michael Pedroni.

Middle East & North Africa: Treasury’s engagement in the Middle East and North Africa focuses on U.S. bilateral economic relations, macroeconomic developments, international financial institution engagement, and development challenges in the diverse region stretching from Morocco to Iran and from Yemen to Turkey. Current policy issues include the effects of the global financial crisis on countries in the region, economic policy development in Iraq, economic aspects of the Middle East peace process, recent developments in Yemen, sovereign wealth funds, and International Monetary Fund programs in the region. Treasury's activity on the Middle East and North is led by Andrew Baukol, and the office is directed by Francisco Parodi.

South and Southeast Asia: The Office of South and Southeast Asia focuses on economic engagement with 17 nations in the region, ranging from Pakistan in the west to The Philippines in the east. The office’s primary responsibilities include promoting U.S. policies and fostering growth, financial stability and poverty reduction in the region. Additionally, the office ensures U.S. interests are reflected in the regional activities of international financial institutions such as the International Monetary Fund, the World Bank and the Asian Development Bank. The office also takes the lead on all issues related to India, including representing the United States in the new U.S.-India Economic and Financial Partnership, and has responsibility for Treasury’s engagement with the Asia Pacific Economic Cooperation (APEC) forum and Association of South East Asian Nations (ASEAN). Treasury's activity on South and South East Asia is led by Robert Dohner, and the office is directed by Michael Kaplan

Technical Assistance: Treasury's Office of Technical Assistance supports the development of strong financial sectors and sound public financial management in countries where assistance is needed and there is a strong commitment to reform. Strengthening public financial management capacity is a vital complement to other forms of aid, and a necessary element in overall aid effectiveness. Sound financial systems are preconditions for security, stability and economic growth. Treasury's program focuses on five related core areas: revenue policy and administration; government debt issuance and management; budget and financial accountability; banking and financial services; and economic crimes. Treasury also has the ability to assist in related areas, such as auditing, accounting, information technology system development, and macroeconomic and monetary policy management. Treasury currently operates programs in more than 40 countries, including Afghanistan, Pakistan and Iraq." Learn more.

Trade and Investment Policy: The Trade and Investment Policy deputate leads Treasury's work to promote open trade and investment policies internationally and for the United States. The deputate includes the Office of Trade Finance and Investment Negotiations and the Office of International Trade. The offices work with other U.S. government agencies to determine U.S. policy on international trade and investment issues, including in various bilateral and multilateral negotiations. Areas of work include participation in committees of the Organization for Economic Cooperation and Development (OECD) to advance open investment policies abroad and to support multilateral rules to reduce export financing subsidies; the negotiation of trade and investment agreements, including free trade agreements and bilateral investment treaties (BITs), with the deputate taking either a lead or supporting role in various facets of these negotiations; reviewing and addressing contemporary trade and financial services issues, as well as participation in the World Trade Organization, including the Doha Development Round of global trade negotiations. The deputate is led by Deputy Assistant Secretary Sharon H. Yuan. The group includes the Office of Trade Finance and Investment Negotiations, managed by David Drysdale; and the Office of International Trade, managed by Whit Warthin.

Western Hemisphere: The Office of the Western Hemisphere covers 34 countries in the region, ranging from Canada to Chile. The office’s work in the region is currently focused on responding to the global economic crisis and recovery by deepening engagement with key emerging markets in Latin America and the Caribbean. Major responsibilities include ongoing analysis of the potential risks and vulnerabilities in the region, promoting policies that sustain growth, supporting efforts to translate this growth into poverty reduction, and cooperating with partner governments and international financial institutions. Treasury's activity on the Western Hemisphere is led by Deputy Assistant Secretary Nancy Lee, and the office is directed by Luyen Tran.

Last Updated: January 27, 2010

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