Under Secretary of the Treasury for International Affairs

The Under Secretary of the Treasury for International Affairs is a senior position within the United States Department of the Treasury responsible for advising the Secretary of the Treasury on international economic issues. The office is currently held by David Malpass.


The Office of International Affairs (IA), led by the Under Secretary of the Treasury for International Affairs, has oversight of the following:

  • Deputy Under Secretary / Designated Assistant Secretary for International Finance and Development
    • Asia
    • Europe and Eurasia
    • Western Hemisphere
    • Middle East and Africa
    • International Monetary Policy
    • International Debt and Development
    • Technical Assistance
  • Assistant Secretary of the Treasury for International Markets and Investment Policy
    • Infrastructure and Energy
    • Trade Policy
    • Investment Security
    • International Financial Markets
  • Deputy Assistant Secretary of the Treasury for International Economic Analysis
  • International Financial Institution Representatives:

Former Under Secretaries

The office of Under Secretary for International Affairs was vacant for nearly a year, following the November 2013 departure of Lael Brainard, who had been appointed by President Barack Obama in April 2010. On Wednesday, February 12, 2014, the White House Press Office announced that U.S. President Barack Obama had nominated D. Nathan Sheets, of Maryland, to the U.S. Senate for confirmation as her replacement.[1] On September 18, 2014, Sheets was confirmed unanimously by the U.S. Senate for the position.[2] Notable former Under Secretaries include Paul Volcker[3], David H. McCormick,[4] Timothy D. Adams,[5] John B. Taylor,[6] Timothy F. Geithner,[7] David Mulford, and Lawrence H. Summers.[8]


The Under Secretary leads the development and implementation of policies in the areas of international finance, trade in financial services, investment, economic development, international debt. It also leads the development of policies on U.S. participation in the International Monetary Fund, the World Bank, and the other multilateral development banks (including the Inter-American Development Bank, the African Development Bank, the Asian Development Bank, and the European Bank for Reconstruction and Development). The Under Secretary also coordinates financial market policy with the G7 industrial nations.[4]


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