Solid global expansion—but with increased unevenness in growth among some major countries and large and chronic payments imbalances—will provide part of the backdrop as the world’s finance and development ministers and central bank governors gather for the April 16-17 Spring Meetings of the IMF and the World Bank.
The International Monetary and Financial Committee (IMFC), the primary advisory committee of the IMF’s Board of Governors, will open the meetings on April 16. The session, which will be chaired by U.K. Chancellor of the Exchequer Gordon Brown, is expected to discuss prospects for the global economy. IMF Managing Director Rodrigo de Rato will also report to the IMFC on the organization’s policy agenda. The joint World Bank-IMF Development Committee will meet on the following day and is expected to take up the findings of the Global Monitoring Report, 2005: From Consensus to Momentum.
De Rato will give a speech on April 6 at Georgetown University that is expected to anticipate some of the themes of the Spring Meetings. Likely to be covered are the state of the world economy and IMF efforts to help low-income countries promote higher growth and reduce poverty. De Rato is also expected to discuss what the IMF is doing to better prepare itself to meet the continuing challenges of supporting financial stability and balanced growth and furthering international monetary cooperation.
On April 13, IMF Economic Counsellor and Research Department Director Raghuram Rajan will brief the press on the latest World Economic Outlook projections for global, regional, and country growth. Also in advance of the Spring Meetings, the Group of 24 developing country finance ministers will meet on April 15.
The schedule of the IMF-World Bank Spring Meetings is available on the IMF’s website (www.imf.org). The full text of Rodrigo de Rato’s Georgetown University speech and the transcript of Raghuram Rajan’s press conference on the World Economic Outlook will be posted shortly after these events take place.