Estonia is to participate in the Spring Meetings of the International Monetary Fund and the World Bank
Eesti Pank and the Ministry of Finance will attend the spring meetings of the International Monetary and Financial Committee of the International Monetary Fund (IMF) and the Development Committee of the World Bank on 21–23 April in Washington. The main topics discussed will be coordination of economic policy steps with the aims of helping strengthen growth in the global economy, promoting investment and continuing effective international cooperation.
The IMF meeting will focus on measures to support the long-awaited return to growth in advanced economies. It will also search for solutions to increase the resilience of emerging markets and developing countries at times of global volatility. Many countries have gained a lot from globalisation and have been able to develop strongly, but in future it will be important for income to be divided more equally among all parts of society. The meetings will discuss how the positive impact of globalisation can reach more people and how to improve the standard of living for even more people. The new lending programme of the IMF is also on the agenda as is how to improve the efficiency of cooperation between the Fund and regional stability mechanisms like the ESM in Europe, with which groups of countries provide financial support to countries in their own region that are facing financial difficulties.
The meeting of the World Bank will discuss how the bank can finance development work and provide technical assistance more efficiently and how to strengthen the financial power of the bank. It is important in this to safeguard the flexibility of the bank in global development and in reacting to emerging crises.
Estonia will be represented in the spring meetings by Deputy Governor of Eesti Pank Madis Müller and by Head of the EU and International Relations Department at the Ministry of Finance Andres Kuningas. Other experts from the central bank and the foreign ministry will also attend the meetings.
The representatives of Eesti Pank and the Ministry of Finance will meet IMF specialists during the meetings to discuss macroprudential topics and the development of the euro area and Estonian economies. Meetings are also planned with the heads of mission for Sweden and Finland, with the US Department of the Treasury, and with staff from the World Bank. Madis Müller will make a presentation on the experiences of the Estonian financial sector at a joint seminar for the IMF and the World Bank.
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 spring meetings, see the IMF website: http://www.imf.org/external/spring/2017/index.htm.