Managing Director Köhler, President Wolfensohn, my fellow Governors, Excellencies, ladies, and gentlemen, it is my great privilege to welcome you to the 2002 Annual Meetings of the International Monetary Fund and the World Bank Group. On behalf of the Boards of Governors, I would like to express our sincere appreciation to the President and the people of the United States of America for their hospitality. I would also like to extend our deep gratitude to the authorities and the people of Washington, D.C. for hosting these meetings. Let me also extend a special welcome to the newest member of the Fund and the World Bank Group, the newly independent nation of Timor-Leste.
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