MercoPress. South Atlantic News Agency

Tim Adams to replace John Taylor in US Treasury

The White House announced that Timothy Adams a form chief of staff in the US Treasury Department has been nominated for the job of Under Secretary for International Affairs.

The nomination which still has to be confirmed by the US Senate is the Treasury's most senior international position and he will play a key part in the US dollar policy as well as in the International Monetary Fund and the World Bank.

Mr. Adams will replace Mr. John Taylor who steps down next April 22, following the spring meetings of the IMF and World Bank.

"The President intends to nominate Timothy D. Adams from Virginia to be Under Secretary of the Treasury", said an official release from the White House.

Mr. Adams was an advisor to President Bush's re-election campaign in 2004.

Prior to this Mr. Adams was chief of staff for both Treasury Secretary Paul O'Neill until his resignation in 2002, and then to Mr. John Snow.

Previously Mr. Adams was a co-founder and managing director of Washington based consulting firm G-7 Group.

The US Treasury has been filling posts gradually in spite of insistent criticism that its influence has been eroded because of vacancies.