Thank you very much, Secretary Summers, President Wolfensohn, Chairman Acharya, Director Camdessus, Vice President Fall, Secretary Anjaria. Let me begin by saying how very grateful I am to be here with all of you. I appreciate the generous introduction. Some of you may have heard me say this before, but the introduction that Secretary Summers just gave me is an illustration of one of my unbending laws of political life: whenever possible, be introduced by someone you have appointed to high office. It is much easier, because he has done such a superb job, and I thank him.
Meetings of the Joint Development Committee were held jointly with the Board of Governors of the Bank. The sessions of the Annual Meetings were held jointly with the Boards of Governors of the World Bank Group.
I feel greatly honored to chair these important Annual Meetings of the World Bank Group and the Fund. At the outset, I, on behalf of people of the Kingdom of Nepal, wish to express our sincere gratitude to distinguished Governors for providing Nepal the opportunity to serve as Chair of the Boards of Governors of the World Bank Group and the Fund.
I am very pleased to welcome you to these Annual Meetings of the World Bank Group and the International Monetary Fund. I would like to express my appreciation to Chairman Mahesh Acharya, whose work in Nepal shows a deep understanding of many of the issues I wish to address today—and to my colleague and friend Michel Camdessus. We work ever more closely together, and I salute the remarkable team he leads.
To the Excellencies and officials of Europe: We suffer enormously in Africa. Help us. We have problems in Africa. We lack rights as children. We have war and illness, we lack food…. We want to study, and we ask you to help us to study so we can be like you, in Africa.”
I am honored to report on the Interim Committee’s discussions on the world economy and its new financial architecture. I report also on Sunday’s first-ever joint meeting of the Interim and Development Committees, where together we entered into a historic commitment to deliver, in the year 2000, many of the world’s poorest countries from burdens of unsustainable debt.
As Chairman of the Development Committee, I am pleased to report to you on the Committee’s work during the two meetings held this year. The Committee’s agenda in these meetings focused on three basic areas. These are:
International Monetary Fund. Secretary's Department
This annual publication is a record of the IMF's Annual Meeting and contains the opening and closing addresses of the Chairman of the Board of Governors, presentation of the Annual Report by the Managing Director, statements of Governors, committee reports, resolutions, and a list of delegates. Usually published in March.