Eesti Pank and the Ministry of Finance are attending the annual meetings of the International Monetary and Financial Committee (IMFC) of the International Monetary Fund (IMF) and the Development Committee of the World Bank on 9–14 October in Bali in Indonesia. The main topics of the meetings are the unevenness in global economic growth, increases in risks in the near future, and the need to create buffers to strengthen long-term resilience.

The IMF meetings this time will discuss reforms that could help preserve growth around the world, reduce risks and improve the medium-term capacity of countries for growth. Separate emphasis will be put on the need to continue international cooperation and make it more efficient. The meetings will also discuss ways of strengthening the global financial system, support for low-income countries and developments in fintech.

The World Bank meetings will mainly discuss how different technologies impact the world today, including their effect on work, labour markets and social relations, and the associated increase in inequality. The World Bank will publish a human capital index, which is a measure that summarises the amount of human capital a child born today can expect to have on their 18th birthday given the healthcare and education in their country.

Governor of Eesti Pank Ardo Hansson will attend a seminar organised jointly by the Indonesian central bank and the Bretton Woods Committee, and take part in a panel discussion on turning back the unorthodox monetary policy measures taken in advanced economies and the impact of doing so. He will also be a discussant in an IMF seminar on the state of the economy in Europe and on risks and the outlook for the future. During the meetings, specialists from the IMF will meet and discuss developments in the Estonian and euro area economies.

Minister of Finance Toomas Tõniste will meet colleagues from various institutions and countries to discuss cooperation with Estonia and to share Estonia’s experience.

The meetings of the IMF and the World Bank are held twice a year and bring together high-level delegations from all the countries of the world to discuss key economic and financial questions and coordinate global economic policy.

For the schedule of the meetings, see the IMF website: https://meetings.imf.org/en/2018/Annual/Schedule

Additional information:
Eva Vahur
Public Relations Office
Eesti Pank
Tel: 668 0965, 533 00619
Email: [email protected]

Siiri Suutre
Communications Department
Ministry of Finance
Tel 611 3114 | 56 654 707
[email protected]