Eesti Pank and the Ministry of Finance are attending the annual meetings of the International Monetary Fund (IMF) and the World Bank on 21–26 October in Washington.

The meeting of the International Monetary Fund will discuss current topics of monetary and fiscal policy. The performance of the global economy has been quite volatile over the past four years as the Covid-19 pandemic, Russia’s war in Ukraine, and extreme weather events have interrupted supply chains and caused a crisis of food and energy prices. Geopolitical tensions have fractured the global economy, impeding trade and the free movement of investment. Political uncertainty has also made the outlook for the global economy less clear than before.

The performance of the economy has however varied across regions. Growth in advanced economies has returned to where it was before the pandemic, and inflation has come down substantially, but poorer emerging economies continue to suffer economically from high inflation, climate change and large debt burdens. The main goals of the annual meeting are consequently to review the lending policy of the IMF and to agree on reform and sustainable financing for the IMF’s Poverty Reduction and Growth Trust (PRGT). A lot of attention will also be devoted to supporting economic reforms in Ukraine as the war continues.

The meeting of the Development Committee of the World Bank will hear a review of the progress of the development programme of the bank group. It will discuss what reforms need to be made to increase the financial capacity and effectiveness of the bank so that it can serve its clients better. Agreement on the 21st funding round of the International Development Association, which is intended to help poorer nations, will be a key matter this year. The funding round is held every three years and the outcome is that priorities and areas of focus are agreed on to support those poorer nations.

Governor of Eesti Pank Madis Müller and experts from the central bank and the Ministry of Finance will attend the annual meetings of the International Monetary Fund and the World Bank and other bilateral meetings. Bilateral meetings will be held with senior officials from the IMF and the World Bank, the Ukrainian government and central bank, the US Treasury and Federal Reserve, and other representatives of the public and private sectors.

The meetings of the IMF and the World Bank are held twice a year and bring together high-level delegations to discuss key economic and financial questions and coordinate global economic policy. This year marks the 80th anniversary of the Bretton Woods conference that laid the foundations for the two institutions.

For the schedule of the meetings, see the IMF website.

Additional information:

Viljar Rääsk
Eesti Pank
6680 745, 5275 055
Email: [email protected]
Press enquiries: [email protected]

Siiri Suutre
Communications Department
Ministry of Finance
Tel: 611 3114 | 5665 4707
[email protected]