Giovanni Dell'Ariccia is Deputy Director of the Research Department of the International Monetary Fund where he supervises the activities of the Macro-Financial and the Systemic Issues Divisions and is a senior reviewer for some of the Fund’s major programs. During the GFC, he was involved in work on crisis resolution, institutional design, and policy reforms for the Euro area. Previously he worked in the Asia and Pacific Department. Mr. Dell’Ariccia holds a bachelor degree in Economics and Statistics from University of Rome and a Ph.D. in Economics from the Massachusetts Institute of Technology. He is a CEPR Research Fellow. Giovanni’s research interests include: Banking; the Macroeconomics of Credit; Monetary Policy; Digital Currencies; International Finance; and Conditionality in International Lending and Aid Programs. He has worked on issues ranging from how information frictions shape competition among banks to credit booms and the relationship between monetary policy, leverage and credit quality. He has published extensively, including on both economics and finance journals.