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Clay Lowery -- Department of the Treasury
Deputy Under Secretary of the Treasury for International Affairs

On November 2, 2005, Clay Lowery was sworn in as the Assistant Secretary for International Affairs at the U.S. Treasury Department. The Assistant Secretary supports the Under Secretary for International Affairs in advising the Secretary and Deputy Secretary of the Treasury in the formulation and execution of United States international economic policy. Specifically, these responsibilities include guidance and oversight in the areas of economic and financial diplomacy, monetary affairs, debt strategy, U.S. participation in the international financial institutions, trade and investment policies particularly financial services negotiations, and development policy. Prior to his service as Assistant Secretary, Mr. Lowery was Vice President of Markets and Sector Assessments at the Millennium Challenge Corporation (MCC). MCC is a government corporation designed to provide foreign assistance to the poorest countries based on strong policy performance. In addition to being one of five individuals that formed an Investment Committee reporting to the CEO, Mr. Lowery managed a division of technical experts in areas as diverse as agriculture, infrastructure, and financial sector development as well as fiscal and environmental safeguards. From 1994 to 2004, Mr. Lowery served at the Treasury Department in a variety of positions, most recently as Deputy Assistant Secretary for Debt and Development Finance. His work included negotiating debt workouts, assisting in the formulation of policy to provide debt reduction to the poorest countries, designing responses to financial crises in Mexico and Asia, representing Treasury in negotiations with Congress and the G-7, and leading a task force – on behalf of the White House – to shape the policy, operations and administrative plans of the MCC. In 2001 and 2002, Mr. Lowery worked as the Director of International Finance at the National Security Council (NSC). His work included being part of a very small team that developed the Presidential initiative that would become the MCC, and advising the National Security Advisor and the President on policy responses to financial crises in emerging market countries. Mr. Lowery has also worked at the New York branch of the German bank Bayerische Vereinsbank, and from 1990 to 1993, was involved in managing projects and monitoring elections, primarily in Africa, for the International Republican Institute, a democracy development group. Mr. Lowery graduated Phi Beta Kappa from the University of Virginia and earned a Masters of Science in Economics at the London School of Economics. He is married and lives in Virginia.

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