IMF, Successful "Lender of Last Resort," Outlines Hurdles as World Emerges from Financial Crisis

For Immediate Release

View from the IMF: Building a Post-Crisis Global Economy

Thursday, December 10, 2009, Noon at Japan Society


New York, NY -- The International Monetary Fund (IMF) faces a host of hurdles as the financial crisis gradually winds down, and developed and developing economies alike anticipate a sustained period of decreased growth. In View from the IMF: Building a Post-Crisis Global Economy, IMF First Deputy Managing Director John Lipsky discusses key tasks confronting the world's lender of last resort. Presided by Mark Whitehouse, Senior Economics Correspondent, The Wall Street Journal, the discussion takes place Thursday, December 10 at Noon.

At the April G20 meeting in London, IMF underwent a significant strengthening of its role and lending capacity. Today it sees primary challenges as moving beyond the current fractured international financial system in restoring global growth on a more balanced and sustainable basis while preserving open global markets, and seeking to combat social strains wrought by the Great Recession. Reforming the global financial system, establishing effective global economic and financial governance, and addressing acute future fiscal challenges also receive special scrutiny.

Noon, registration and reception; 12:30, luncheon; 1-2, lecture and Q&A

Admission: $65 lunch and lecture/$15 lecture only. Japan Society Corporate Members are entitled to a designated number of FREE admissions based on their company's membership level. Discounted rates are available for additional Japan Society Corporate Members, certain individual members, government officials and academics. To register or for more information, please email, visit, or call 212-715-1208.

John Lipsky
assumed the position of First Deputy Managing Director of the International Monetary Fund on September 1, 2006. Before coming to the Fund, Mr. Lipsky was Vice Chairman of the JPMorgan Investment Bank, where he advised the firm's principal market risk takers, published independent research on the principal forces shaping global financial markets, was actively engaged with JPMorgan's key clients, and represented the firm around the world with senior public and financial sector decision makers. Previously, Mr. Lipsky served as JPMorgan's Chief Economist, and as Chase Manhattan Bank's Chief Economist and Director of Research. He served as Chief Economist of Salomon Brothers, Inc. from 1992 until 1997. From 1989 to 1992, Mr. Lipsky was based in London, where he directed Salomon Brothers' European Economic and Market Analysis Group. Before joining Salomon Brothers in 1984, he spent a decade at the IMF, where he helped manage the Fund's exchange rate surveillance procedure and analyzed developments in international capital market. Mr. Lipsky serves on the Board of Directors of the National Bureau of Economic Research.

Mark Whitehouse
is the senior New York economics correspondent for The Wall Street Journal. Before that, he served as a deputy bureau chief in London and a credit-markets reporter in New York. He spent much of his journalistic career in Russia, where he most recently served as the founding managing editor of Vedomosti, a Russian-language newspaper partly owned by Dow Jones & Co. that has become the country’s leading business daily. As a correspondent in The Wall Street Journal's Moscow bureau, he was part of a team that won the Pulitzer Prize in international reporting for coverage of Russia’s 1998 financial crisis.

Established in 1907, Japan Society has evolved into North America's major producer of high-quality content on Japan for an English-speaking audience. Presenting over 100 events annually through well established Corporate, Education, Film, Gallery, Language, Lectures, Performing Arts and Innovators Network programs, the Society is an internationally recognized nonprofit, nonpolitical organization that provides access to information on Japan, offers opportunities to experience Japanese culture, and fosters sustained and open dialogue on issues important to the U.S., Japan, and East Asia.

Japan Society is located at 333 East 47th St. between First and Second Avenues (accessible by the 4/5/6 and 7 subway at Grand Central or the E and V subway at Lexington Ave.) Call 212-832-1155 or visit for more information.

View from the IMF: Building a Post-Crisis Global Economy is sponsored by Citigroup Inc.; Continental Airlines; Deloitte & Touche, LLP; Mizuho Securities USA; and Toyota Motor North America.

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Shannon Jowett
Japan Society
T: (212) 715-1205
F: (212) 715-1262

Kuniko Shiobara
Japan Society
T: (212) 715-1249
F: (212) 715-1262

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