Ricardo V. Lago is an economist, financial analyst, and lecturer of Macroeconomics at the Miami Herbert Business School of the University of Miami. Previously, Mr. Lago held senior positions at the European Bank for Reconstruction and Development (1993- 2003), the InterAmerican Development Bank, and the World Bank. In these institutions, he negotiated development programs with countries of Latin America, Eastern Europe and the Former Soviet Union , and Africa. He led the negotiations of the World Bank with the Government of Peru on stabilizing hyperinflation, economic reform, and the debt workout. Prior to the World Bank , Mr. Lago worked for the Mexican Ministry of Finance where he was Director of Economic Policy and was involved in the design of the macroeconomic stabilization program of 1982-85 and the restructuring of the public debt after the default. Since leaving the International Finance Institutions , Mr. Lago has advised private companies, central banks, and ministries of finance, and acted as speaker at conferences and universities. He has written a score of specialized articles and books on international economics and finance. Mr. Lago is a graduate of the Universities of País Vasco (Spain) and California Los Angeles ( UCLA).