US Treasury is the financial management arm of the US government. Treasury’s Office of International Affairs (IA) works with other federal agencies, foreign governments, and international financial institutions to strengthen the international economic environment for US growth, prevent global financial instability, and manage key global challenges. IA’s budget is almost wholly comprised of commitments to Multilateral Development Banks (MDBs), which provide financial and technical assistance to developing countries. The United States is the largest shareholder in the World Bank, as well as a leading shareholder in the regional development banks, such as the Asian Development Bank and the African Development Bank. Additionally, Treasury’s Office of Technical Assistance (OTA) is a leader in US support for Domestic Resource Mobilization (DRM), particularly in achieving Addis Tax Initiative commitments.
CGD’s research related to the US Treasury includes addressing how the United States can leverage its role in MDBs and other international institutions to create more effective institutions, as well as how DRM efforts can be best supported at Treasury and other US institutions.