For 27 years, Vito Tanzi was a senior staff member of the International Monetary Fund. He was the director of the Fiscal Affairs Department of the IMF. He also was as Undersecretary for Economy and Finance in the Italian Government. A professional economist with a PhD from Harvard, he is considered a leading expert in fiscal policy. The author of many books and hundreds of articles in professional journals, he has given a named "effect" to economics, the "Tanzi Effect". He has been a consultant to many international organisations including the United Nations, theWorld Bank, the European Commission, the European Central Bank, and the Inter-American Development Bank. In 1994 he was President of the International Institute of Public Finance of which he is now Honorary President.