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International Financial Institutions (IFIs) and particularly the relationship between the IFIs and the United States.
Scott Morris is a senior fellow at the Center for Global Development and director of the US Development Policy Initiative. In addition to managing the center’s work on US development policy, his research addresses development finance issues, debt policy, governance issues at international financial institutions like the World Bank and IMF, and China’s role as a development actor.
Morris served as deputy assistant secretary for development finance and debt at the US Treasury Department during the first term of the Obama Administration. In that capacity, he led US engagement with the multilateral development bank, as well as US participation in the Paris Club of official creditors. He also represented the US government in the G-20’s Development Working Group and was the Treasury’s “+1” on the board of the Millennium Challenge Corporation. During his time at Treasury, Morris led negotiations for four general capital increases at the multilateral development banks and replenishments of the International Development Association (IDA), Asian Development Fund, and African Development Fund.
Morris was a senior staff member on the Financial Services Committee in the US House of Representatives, where he was responsible for the Committee’s international policy issues, including the Foreign Investment and National Security Act of 2007 (the landmark reform of the CFIUS process), as well multiple reauthorizations of the US Export-Import Bank charter and approval of a $108 billion financing agreement for the International Monetary Fund in 2009. Previously, Morris was a vice president at the Committee for Economic Development in Washington, DC.
Scott Morris is quoted in a Reuters article about the World Bank's annual "Doing Business" report.
From the article:
The World Bank on Friday said it intends to keep ranking nations on the ease of conducting business, despite criticism from countries like China that feel the scorecard unfairly stigmatizes fast-growing developing economies.
World Bank President Jim Yong Kim said the Bank is committed to keeping its flagship "Doing Business" report, including the rating, which compares the ease of starting and conducting a business in 185 countries.
Shortly after coming to the World Bank last July, Kim appointed an independent panel to review the report and make recommendations about its future. The World Bank's board discussed the panel's findings on Friday, and they will be released publicly in coming weeks.
Scott Morris, a former U.S. Treasury official, said Kim was motivated to appoint the panel because several board members were very critical of the report last summer and wanted it abolished.
Morris, now a visiting fellow with the Center for Global Development in Washington, said some countries were uncomfortable with the transparency of the ranking system, posing a dilemma for the World Bank on its role and whether it should rank its members.
Read it here.
LBJ did it. So did Bill Clinton. Gerald Ford did it twice, Jimmy Carter did it just five weeks before being voted out of office, then Ronald Reagan turned around and did it the following year, and three more times after that.
As expected, the president’s budget includes a request for Congress to approve US participation in the 2010 IMF quota reform agreement. There’s a very strong case for approving the request, and I’ll simply point you here, here, and here to read it in detail. Suffice it to say, the IMF is a bargain for US taxpayers, promoting growth and stability globally in ways that directly benefit the US economy and often working in support of US strategic interests around the world.