Chief counsel, International Finance Corporation (“IFC”) (1988-97) reporting to IFC senior management on policy-related aspects of IFC’s business. In this role authored, co-authored or significantly contributed to various policy-related Board papers, including: 1997 World Bank Group Report on Anti-Corruption Initiatives; 1992 IFC General Capital Increase; 1991 IFC Special Capital Increase; IFC Investments in Mixed Private and Public Sector Enterprises – An Overview; IFC Financing of Small- and Medium-Sized Enterprises through Financial Intermediaries; IFC’s Policy and Practice on Reschedulings; IFC’s Policy and Practice on Investments in Jeopardy; Report to the Board on New IFC Investment Procedures; Report to the Board on Investment of IFC’s Liquid Assets; Reports to the Board on IFC’s Annual Funding Programs. Principal Counsel to IFC’s Infrastructure Department (1988-1995) responsible for the drafting and negotiation of complex power projects in Central America and Asia involving innovative financial structures in the geo-thermal, hydro and diesel sectors.
Chief Counsel, IFC (1984-88) for market borrowings and liquidity management. In this role, negotiated and documented IFC’s first market borrowings in U.S. dollars, Deutsche mark, Japanese yen, ECUs and Spanish pesetas; negotiated and documented IFC’s first swap and derivative transactions (currency and basis swaps, futures, options, warrants, etc.); handled IFC’s first public issues in European and U.S. capital markets; secured U.S. legislation exempting IFC’s debt securities from SEC registration; directed legislative eligibility program for IFC’s bonds in 20 states; directed compliance program for securing and sustaining IFC’s AAA debt rating in the capital markets. Specialized in the foreign investment, repatriation and privatization regimes of IFC’s members with centrally-managed and/or transition economies (Russia, China, Yugoslavia, Hungary, Romania, and Bulgaria).