IMF and World Bank 2011 Spring Meetings

Berne, Press release, 13.04.2011

Federal Councillor Eveline Widmer-Schlumpf as head of the Swiss delegation, Federal Councillor Johann Schneider-Ammann and Philipp Hildebrand, Chairman of the Governing Board of the Swiss National Bank (SNB), will take part in the joint Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington from 15 to 16 April 2011. The most important topics of discussion in the International Monetary and Financial Committee will be the state of the global economy and the future role of the IMF in the international financial and monetary system. The focus of the discussions in the Development Committee (DC) will be the volatility of food prices, reforms to the World Bank and the progress on achieving the Millennium Development Goals.

In the International Monetary and Financial Committee (IMFC), finance ministers and central bank governors will discuss the global economic outlook. The global economic recovery is beginning to take hold. Unemployment is still high in the industrialised countries, however, and in a number of emerging economies this could soon lead to overheating. By the end of 2011, the IMF anticipates global economic growth of approximately 4.5%. The emerging and developing countries will contribute to this with growth of approximately 6.5%, and the industrialised countries with growth of approximately 2.5%. Once more, the IMF is calling on its member states to adopt a sustainable budget and debt management policy, together with a more consistent approach to reforms and adjustments in the financial sector.

The discussions on the future role of the IMF will deal with various measures to strengthen the international financial and monetary system, as was discussed in the last ministerial meeting of the G20. The key topics are possible measures to stabilise capital flows, global financial safety nets, the role of Special Drawing Rights (SDRs) and the strengthening of financial sector monitoring by the IMF.

The Development Committee (of the World Bank and the IMF) will deal with the volatility of food prices, the reforms of the instruments and governance of the World Bank, progress in achieving the Millennium Development Goals and providing World Bank support to fragile states.


Address for enquiries:

Mario Tuor, Head of Communications, State Secretariat for International Financial Matters,
+41 31 322 46 16, mario.tuor@sif.admin.ch

Raymund Furrer, Head of the Division for Multilateral Cooperation, State Secretariat for Economic Affairs,
+41 31 324 08 19, raymund.furrer@seco.admin.ch

Olivier Chave, Global Institutions Division, Swiss Agency for Development and Cooperation,
+41 31 322 86 09, olivier.chave@deza.admin.ch


Publisher:

The Federal Council
Federal Department of Foreign Affairs
Federal Department of Economic Affairs, Education and Research
Federal Department of Finance