Baku may host WB and IMF annual meeting

Wed 21 February 2018 15:40 GMT | 19:40 Local Time

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Azerbaijan filed an application to hold the Annual Meeting of the Boards of Governors of the World Bank Group (WBG) and International Monetary Fund (IMF) in Baku, a source in Azerbaijan’s government told Trend.

According to the information, the meeting is to be held in 2021. The WBG will review the candidacies of Baku and other cities in Autumn 2018.

Each autumn, the Boards of Governors of the WBG and IMF hold Annual Meetings to discuss a range of issues related to poverty reduction, international economic development and finance. The Annual Meetings provide a forum for international cooperation and enable the Bank and Fund to better serve their member countries.

The Annual Meetings traditionally are held in Washington two years out of three and, in order to reflect the international character of the two institutions, every third year in a different member country.

In addition to the meetings of the Boards of Governors, the Development Committee and the International Monetary and Financial Committee (IMFC) are officially convened. The Development Committee and the IMFC advise the Boards of Governors on issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.

In 2018, the Annual Meetings of the Boards of Governors of WBG and IMF will be held in Indonesia. The next two meetings will be held in Washington.

Azerbaijan joined the WBG and IMF in 1992. Azerbaijan’s Governor in the Bank is Chairman of Azerbaijan’s Central Bank Elman Rustamov, in the Fund – Finance Minister Samir Sharifov.




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