Front Matter

Front Matter

International Monetary Fund
Published Date:
December 2010
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    Per Jacobsson Foundation


    ISSN 0252-3108

    Editor: Michael Harrup

    Composition: Alicia Etchebarne-Bourdin

    Cover design and production: IMF Multimedia Services Division

    The Per Jacobsson lectures are available on the Internet at, which also includes further information on the Foundation. Copies of the Per Jacobsson lectures may be acquired without charge from the Secretary.


    The second Per Jacobsson Foundation Lecture of 2010, “Navigating the New Normal in Industrial Countries,” was presented by Dr. Mohamed A. El-Erian, who is the Chief Executive Officer and co-Chief Investment Officer of PIMCO, an international investment firm with headquarters in Newport Beach, California. The lecture was held October 10 in the auditorium of the International Finance Corporation in Washington, D.C., in conjunction with the Annual Meetings of the International Monetary Fund and World Bank. Sir Andrew Crockett, Chairman of the Foundation’s Board of Directors, moderated the event.

    The Per Jacobsson Foundation was established in 1964 to commemorate the work of Per Jacobsson (1894—1963) as a statesman in international monetary affairs. Per Jacobsson was the third Managing Director of the IMF (1956—63) and had earlier served as the Economic Adviser of the BIS (1931—56). Per Jacobsson Foundation lectures and contributions to symposia are expressions of personal views and intended to be substantial contributions to the field in which Per Jacobsson worked. They are distributed free of charge by the Foundation. Further information about the Foundation may be obtained from the Secretary of the Foundation or may be found on the Foundation’s website (

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