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IMF Board meets with ECOSOC: ambassadors to strengthen dialogue on economic issues

Author(s):
International Monetary Fund. External Relations Dept.
Published Date:
January 1999
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On June 1-2, in Washington, the IMF for the first time brought together ambassadors from the UN’s Economic and Social Council (ECOSOC) and members of its Executive Board for a special dialogue to promote a better mutual understanding of the IMF’s policies and UN activities in a wide area of shared concerns. The meeting is part of the IMF’s continuing efforts to strengthen its outreach with UN agencies, improve the transparency of IMF policies and operations, and benefit from the perspectives of other international organizations.

In his opening remarks, Alassane D. Ouattara, Deputy Managing Director of the IMF, focused on the IMF’s efforts in economic security, good governance, and social development. While stressing the importance of sound macroeconomic policies and accelerated structural reform, he noted that sustainable growth will depend, among other things, on attention to education, health, public infrastructure, social safety nets, and the quality of governance, including the rule of law and efficient and accountable public sectors. With its Enhanced Structural Adjustment Facility (ESAF) and Heavily Indebted Poor Countries (HIPC) Initiative, the IMF is striving to combine effective policy reform with improved living standards and poverty alleviation, he said.

Ouattara reaffirmed the importance of cooperation between the IMF and the ECOSOC and hoped this enhanced dialogue and coordination could help the international community deal more efficiently and effectively with economic problems.

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