Mr. Chairman, Governors, Distinguished Guests: it is a pleasure to welcome you to these Annual Meetings on behalf of the International Monetary Fund. Let me first express the IMF’s gratitude to Horst Köhler - now President Köhler - for his leadership of the institution these past four years, and also to Anne Krueger for assuming the role of Acting Managing Director in the transition period. My personal thanks also to the Deputy Managing Directors for their help and counsel in the months since my appointment and to Jim Wolfensohn for extending a warm welcome and a hand of collaboration.
Mr. Chairman, Mr. de Rato, Mr. Wolfensohn, Governors, ladies and gentlemen: as Chairman of the Development Committee, I am pleased to report to you on the Committee’s work during the two meetings held in 2004.
The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.