Estonia to participate in the Annual Meetings of the International Monetary Fund and the World Bank

Representatives of Eesti Pank and the Ministry of Finance participate in the Annual Meetings of the International Monetary Fund (IMF), the International Monetary and Financial Committee (IMFC) and the Development Committee of the World Bank, held in Istanbul on October 6-7. The main issues of the Annual Meetings include the recovery outlooks of the global economy and financial markets, as well as the IMF's management reform.

For Estonia, one of the most important issues is the outlooks of the global economy and financial markets, where the emphasis is on an analysis of vulnerabilities and possible risks. The analysis also includes an overview of the findings of the Early Warning Exercise, which is the IMF's global advance warning system. Among the topics discussed at the meetings are the planned changes in the management of the IMF and expanding the IMF's activities in the field of financial sector monitoring.

The agenda of the meeting of the Development Committee of the World Bank comprises a discussion of the impact of the crisis on less developed countries. The joint address of the Nordic and Baltic countries is going to stress the importance of concluding the climate agreement and the impact of the agreement.

Estonia's representatives at the Annual Meetings are Minister of Finance Jürgen Ligi, Secretary-General of the Ministry of Finance Tea Varrak, Governor of Eesti Pank Andres Lipstok and Deputy Governor of Eesti Pank Märten Ross. Experts from the central bank, the Ministry of Finance and the Office of the Prime Minister will also participate.

The representatives of Eesti Pank and the Ministry of Finance will also meet the management of the IMF and the IMF's European Department to discuss the situation and outlooks of the Estonian economy. The Minister of Finance has a meeting scheduled with Vice President of the World Bank.

Details of the press briefings and events of the Annual meetings are available on the web page of the IMF at www.imf.org/external/am/2009/.

The IMFC is an advisory body of the IMF supervising the development of the international monetary and financial system. The IMFC meetings take place biannually and are attended by, in addition to the committee's own members, representatives from the IMF member countries and international organisations.

For further information:
Viljar Rääsk
Eesti Pank
Public Relations Office
Telephone: +372 668 0745, +372 527 5055
E-mail:
viljar.raask [at] epbe.ee

Katrin Reinmann
Ministry of Finance
Public Relations Department
Telephone: +372 611 3049; +372 530 30146
E-mail:
katrin.reinmann [at] fin.ee