Events

Rodrigo Rato Figaredo

The crisis and the new reality

Rodrigo Rato Figaredo, senior managing director of Lazard Asesores Financieros, gave a keynote speech entitled: "The crisis and the new reality". His intervention took place on 15 September 2009, as part of the series of conferences entitled "What will our societies be like after the crisis?

The Rafael del Pino Foundation organised this series of conferences which took place throughout 2009 and 2010. Participants included Richard L. Schmalensee, Juergen B. Donges, Mauro F. Guillén, Stephen S. Roach and Xavier Sala-i-Marten. Donges, Mauro F. Guillén, Stephen S. Roach and Xavier Sala-i-Martín.

Rodrigo Rato is Senior Managing Director of Lazard Asesores Financieros. He took up his duties as Managing Director of the International Monetary Fund (IMF) on 7 June 2004, following his election by the Executive Board on 4 May 2004, and served until 31 October 2007.

Before joining the IMF, he was Vice-President for Economic Affairs and Minister of Finance of the Spanish Government from 1996 to 2004. As Minister of Economy, Rodrigo Rato also served as Governor for Spain on the Boards of Governors of the IMF, the World Bank, the Inter-American Development Bank, the European Investment Bank and the European Bank for Reconstruction and Development.

During his time as Minister of Economy, a period that saw Spain's entry into the Economic and Monetary Union (EMU), the new Personal Income Tax (IRPF) was implemented, the financing system for the autonomous communities was reformed, and key sectors of the economy were liberalised. In addition, the public deficit was reduced until it reached a balanced budget and the public debt of the State, which allowed Spain to enter the single currency in compliance with the Maastricht requirements.

Rodrigo Rato obtained his law degree from the Complutense University of Madrid in 1971, and an MBA from the University of California, Berkeley, in 1974. In 2003, he obtained a PhD in Economics from the Complutense University of Madrid.

The Rafael del Pino Foundation is not responsible for the comments, opinions or statements made by the people who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their sole responsibility. The contents included in the summary of this conference, written for the Rafael del Pino Foundation by Professor Emilio González, are the result of the debates held at the meeting held for this purpose at the Foundation and are the responsibility of the authors.

The Rafael del Pino Foundation is not responsible for any comments, opinions or statements made by third parties. In this respect, the FRP is not obliged to monitor the views expressed by such third parties who participate in its activities and which are expressed as a result of their inalienable right to freedom of expression and under their own responsibility. The contents included in the summary of this conference, written for the Rafael del Pino Foundation by Professor Emilio J. González, are the result of the discussions that took place during the conference organised for this purpose at the Foundation and are the sole responsibility of its authors.

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