The Institute for Liberty and Democracy (ILD), based in Lima, Peru, is led by Hernando de Soto. In Time magazine's May 1999 issue on Leaders for the New Millennium, he was designated one of the five leading Latin American innovators of the century. As President Alberto Fujimori's Personal Representative and Chief Advisor, De Soto was instrumental in the transformation of Peru's economic and political structure. His earlier book, The Other Path, was a worldwide hit in Latin America and the United States. He and ILD are currently working on the practical execution of the steps proposed in The Mystery of Capital to bring the impoverished into the economic mainstream. He currently resides in Lima, Peru.