The 2008 Annual Meetings
The Annual Meetings of the International Monetary Fund and the World Bank Group are 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 aid effectiveness. The Meetings, which are widely covered by the international media, also offer an opportunity for civil society organizations to air their views and interact with policymakers in a multilateral setting. |
When, where, and who?
The 2008 Annual Meetings of the Boards of Governors of the IMF and World Bank Group will be held at IMF and World Bank headquarters on Monday, October 13, 2008. The Board of Governors for each institution consists of one governor from each of the institutions' member countries. For the IMF, these are typically the finance ministers or the heads of central banks of its 185 member countries. During the Annual Meetings, the Boards of Governors decide on major policy issues related to the future work of the two institutions, which are subsequently implemented by their respective Executive Boards.
The Annual Meetings will be preceded by meetings of the International Monetary and Financial Committee (IMFC), the advisory body of the IMF, and the Development Committee, a forum of the World Bank and the IMF that facilitates consultation and consensus-building on development issues. The IMFC will meet on Saturday, October 11, and the Development Committee on Sunday, October 12. The communiqués issued after the meetings of these committees give important guidance to the institutions' Executive Boards, and generate wide coverage by the media and close attention among civil society organizations.
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 (when member countries voice their interest in hosting the Annual Meetings, an assessment is made of the venue and its logistics. The proposal is then presented to the Executive Boards for decision). The last three Meetings abroad were held in Singapore (2006); Dubai (2003); and Prague (2000). The 2009 Annual Meetings will be held in Istanbul, Turkey. A complete list of past venues of meetings held away from Washington is available on the Annual Meetings website.
About 8,000 people are expected to attend the 2008 Annual Meetings, including the governors, their alternates, and members of their delegations; observers from intergovernmental agencies (e.g., OPEC, OECD); special guests (high-level representatives from global financial institutions); visitors (including representatives from financial institutions and private individuals); journalists; and representatives of civil society organizations.
What's on the agenda?
The International Monetary and Financial Committee (IMFC) advises the Board of Governors and will discuss the outlook for the global economy and developments in financial markets, as well as other pressing issues within the Fund's mandate. At the conclusion of its meeting, the IMFC will release a communiqué, which will be followed by a press conference by the IMFC Chair and the IMF's Managing Director. For more details, see the Annual Meetings' schedule of events.
Other events
Various country groups, such as the Group of 24 and the Group of Seven Finance Ministers and Central Bank Governors, also take the opportunity to meet with their members ahead of the Annual Meetings. For more details, see the Guide to Committees, Groups and Clubs.
In addition to the major press conferences on the Global Financial Stability Report, the World Economic Outlook, and the Annual Meetings agenda by the Managing Director, IMF senior staff will hold press briefings and seminars on regional economic outlooks and other topical issues. For more details, see the press schedule.
On Friday, October 10, and Sunday, October 12, a Program of Seminars will offer participants the opportunity for in-depth discussion on high food and fuel prices, their impact across countries, the implications for the world economy, and policy options. The Program is a premier global forum where private sector executives from around the world, high-level policymakers, and other leaders in the international development and financial fields hold a constructive dialogue to strengthen the network for cooperation in the global economy. For more details, see the Program of Seminars webpage.