Exclusive: Yellen to name ex-IMF official Lipton to senior Treasury role, sources say

FILE PHOTO: International Monetary Fund (IMF) Acting Managing Director David Lipton attends a news conference after a meeting at the Chancellery in Berlin, Germany October 1, 2019. REUTERS/Hannibal Hanschke

WASHINGTON (Reuters) – David Lipton, an economist who served as a senior official at the International Monetary Fund and U.S. Treasury, will return to government service as a senior adviser to Treasury Secretary Janet Yellen, six sources familiar with the matter said.

Lipton will focus on the U.S. role within the Group of Seven advanced economies and the larger Group of 20 economies in a temporary role, several sources said on condition of anonymity, as they struggle to manage the coronavirus pandemic and ensure a nascent global recovery stays on course.

The White House and Treasury had no comment. Lipton did not respond to an emailed request for comment.

Bringing Lipton in to guide international matters will free Yellen to focus on the U.S. economy and push for passage of President Joe Biden’s $1.9 trillion rescue package, which has run into resistance from Republicans in Congress, the sources said.

Lipton’s long experience on international economic issues and his tenure as Treasury undersecretary for international affairs from 1993 to 1998 in the Clinton administration, will help Washington as it seeks to rebuild ties with allies and multilateral institutions, people familiar with his assignment said.

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