The IMF, World Bank 2006 Annual Meetings

SINGAPORE, Sept. 16 – The Annual Meetings of the International Monetary Fund and the World Bank Group is the only global event that each year brings together thousands of leaders from the financial and development field, including monetary policymakers, private-sector executives, and academic experts, to discuss issues of global concern, such as the world economic outlook, poverty eradication, economic development, and effective aid. The Meetings, which are widely covered by the international media, also offer an opportunity to Civil Society Organizations to air their views and interact with policy makers in a multilateral setting.
The 2006 Annual Meetings of the Boards of Governors of the IMF and World Bank
Group are held at the Suntec Center in Singapore on September 19-20. The Board of Governors for each institution consists of one Governor from each of the IMF’s 184 member countries. For the IMF, these are typically the finance ministers or the heads of central banks. During the Annual Meetings, the Board of Governors can decide on major policy issues related to the future work of the two institutions, which are subsequently implemented by their respective
The Annual Meetings are usually held for two consecutive years at the IMF and World Bank headquarters in Washington D.C. and every third year in another member country. The Singapore Meetings are expected to be attended by about 16,000 participants, including the Governors, their Alternates, and delegations (approximately 3,000 people); 350 observers from intergovernmental agencies (e.g., OPEC, OECD); 350 special guests (high-level representatives from global financial institutions); about 2,400 visitors (including representatives from financial institutions and private individuals); 1,300 journalists; 300 representatives of civil society organizations; and 700 IMF/World Bank staff in addition to local staff and security personnel. Annual meetings at headquarters are usually attended by about 8,000 participants.
The International Monetary and Financial Committee (IMFC), which is currently chaired by UK Chancellor Gordon Brown, advises the Board of Governors and will discuss the outlook for the global economy and developments in financial markets. At the 2006 Annual Meetings, the committee will review the implementation of the IMF’s Medium-Term Strategy with a focus on IMF governance (voice and representation) and on adapting the IMF surveillance framework. Various country groups, such as the Group of 24 or the Group of Seven Finance Ministers and Central Bank Governors, also take the opportunity to meet with their members ahead of the Annual Meetings.