MSU President M. Peter McPherson has received an award from the U.S. Department of Treasury for his efforts last summer to help rebuild Iraq's struggling economy.
McPherson took a 130-day unpaid leave of absence from the university to serve as the financial coordinator in Iraq for the Office of Reconstruction and Humanitarian Assistance. The award says McPherson played a critical role in creating an independent Central Bank in Iraq, allowing for a stable national currency and sound banking regulation.
McPherson received the Distinguished Service Award with five other recipients from U.S. Treasury Secretary John Snow in Washington D.C. on Wednesday.
"The currency is in place, and I'm confident that whatever government is there will use it," McPherson said. "My hope is that some of the other work we did will stay in place."
Other projects included working with the Iraq Governing Council to set a maximum personal income tax rate of 15 percent and a flat tariff of 5 percent.
In a written statement, Snow said McPherson "played an essential role in helping the newly-liberated country of Iraq shape critical elements of their developing financial policies."
"Peter McPherson was awarded the Distinguished Service Award in recognition of his leadership and his commitment to helping Iraq build a strong financial structure and stable democracy," Snow said.
McPherson said he was pleased with the award and had not expected it.
"It was a very intense experience," McPherson said of his time in Iraq. He said his time away made him think of other jobs he would like to do outside of MSU. McPherson will be leaving the university on Jan. 1 and has not described his future plans.
"The Africa issues remain of great interest," McPherson said. For six years, he worked with foreign aid as the director of the Agency of International Development, and before that, he spent time in Peru with the Peace Corps.
"I'm staying in touch with some of the people involved (with Iraq)," McPherson said.
"I haven't finally decided what I'm going to do."
