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Weak Global Economy Tops Agenda at IMF-World Bank Gathering

Mon, 19 Sep 2011 17:56:51 GMT

By iMFdirect

Recent turbulence in financial markets and increased risks in the global economy mean that the 2011 Annual Meetings of the IMF and World Bank are taking place at a critical time for the global economy.

Economic leaders will come together to assess the state of the world economy and discuss the policy actions needed to deal with today’s global economic challenges. The IMF’s updated forecast for the world economy will be published September 20.

About 10,000 policymakers, private sector and civil society representatives, journalists, and academics are expected to attend the Annual Meetings, which are set to take place on September 23–24.

In an interview, Reza Moghadam, Director of the IMF’s Strategy, Policy, and Review Department, discusses the issues that are likely to receive most attention at the meetings.

There is widespread concern that the global economic recovery is losing momentum … ministers and central bank governors will come to these meetings with that concern uppermost in their minds. The key for the Fund is to facilitate discussion of these issues, both in terms of the causes of the problems and the solutions…

…we will be putting on the table ideas on how to improve our surveillance further, how to make it more relevant, how to make it as interconnected as the world economy…

….Policymakers from 187 countries will be coming together … formulating and taking forward collective actions—actions by the entire membership—to impart momentum to the global economic recovery.

Read the full interview or watch the video.

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