Energy Subsidy Reforms--Lesson and Implications


March 27, 2013, 12:00 AM EDT
Peterson Institute for International Economics, Washington, DC
David Lipton (First Deputy Managing Director, International Monetary Fund), Jacob Funk Kirkegaard (PIIE) and Barbara Kotschwar (PIIE)

Event Summary

David Lipton, first deputy managing director of the International Monetary Fund, presented the new IMF study "Energy Subsidy Reforms—Lesson and Implications" at the Peterson Institute on March 27, 2013. A panel discussion with a number of non-governmental perspectives followed Lipton's introduction. The event was cohosted by the IMF and the Peterson Institute.

Based on a review of energy subsidy in 176 countries, the IMF study presents a compelling case for the urgent need to deeply revise the way that energy subsidies are applied, in both rich and poor countries. Case studies of successful and unsuccessful reforms in 19 countries offer clear guidelines on how to implement change. The study touches on broad issues such as growth, fiscal sustainability, inequality, greenhouse gas emissions, and global warming.

David Lipton became first deputy managing director of the IMF in September 2011. Before joining the Fund, he was special assistant to the President and served as senior director for international economic affairs at the National Economic Council and National Security Council at the White House. He served in the Clinton administration at the US Treasury Department from 1993 to 1998, including as assistant secretary and under secretary of the US Treasury for International Affairs. Before that, he was a fellow at the Woodrow Wilson Center of Scholars. From 1989 to 1992, he worked along with Jeffrey Sachs as economic adviser to the governments of Russia, Poland, and Slovenia. Lipton also has had a distinguished private-sector career working in senior roles with Citi and Moore Capital Management. He holds a PhD and MA from Harvard University.

For more information about the study, visit the IMF website.

Event Materials

Report: Energy Subsidy Reform: Lessons and Implications [PDF]

David Lipton: Prepared Remarks | Presentation [PDF]
March 27, 2013