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International Monetary Fund. External Relations Dept.

Amid encouraging indications of a gradual recovery from the economic crises that have affected many regions of the world, the Boards of Governors of the World Bank and the IMF will gather in Washington for the fifty-fourth Annual Meetings, which will formally open on Tuesday, September 28. The meetings will be chaired by Mahesh Acharya, Finance Minister of Nepal.

Elisa Diehl

The global economy is showing signs of recovering from the financial crises of the previous two years, according to the governors representing the IMF’s 182 member countries. Speaking during the plenary sessions of the 1999 Annual Meetings of the IMF and the World Bank, held on September 28–30 in Washington, D.C. most governors nonetheless cautioned that great care would be necessary to nurture the recovery, which they considered fragile. A second key message to emerge from the governors’ addresses was one of unanimous support for the enhanced Heavily Indebted Poor Countries (HIPC) Initiative and approval of the strengthened link between poverty reduction and debt relief.

International Monetary Fund

Abstract

This paper focuses on goal setting for development of the world. The paper highlights that the goals come from the agreements and resolutions of the world conferences organized by the United Nations in the first half of the 1990s. The paper focuses on seven goals that cover poverty, education, gender equality, infant and child mortality, maternal mortality, reproductive health, and environment. Each of the seven goals addresses an aspect of poverty. The paper also emphasizes that these goals should be viewed together because they are mutually reinforcing.

Sabina Bhatia

Do better-designed macroeconomic policies—more attuned to the needs of the poor—hold a key to more effective poverty reduction? If so, much will depend on better data and more detailed analysis of what works and why. The IMF’s Research Department convened the Conference on Macroeconomic Policies and Poverty Reduction, on March 14—15, to spotlight new findings. The gathering, which follows through on an April 2001 forum, provided a platform for debate on the impact of economic reforms and financial crises on the poor, the effectiveness of social safety nets and aid, and the question ofwhat to do about the debts of illegitimate governments.

MEAD OVER

The AIDS epidemic is straining the limited resources available to many developing country governments. How can governments provide support to those affected by AIDS without neglecting others in need or abandoning important development goals?

International Monetary Fund. External Relations Dept.

Following is the text of the Joint Ministerial Committee of the Boards of Governors of the Bank and the IMF on the Transfer of Real Resources to Developing Countries (Development Committee) communiqué, issued on September 27 in Washington, D.C. The complete text is available on the World Bank’s website at www.world-bank.org/html/extdr/AM99/dc092799.htm.

KLAUS DEININGER and LYN SQUIRE

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

International Monetary Fund

Abstract

Goal: Enrol all children in primary school by 2015