CBK governor heads to Washington for WB, IMF meetings

The Governor of the Central Bank of Kuwait (CBK) Sheikh Salem Abdelaziz Al-Sabah is heading to Washington on Sunday, heading an official delegation that is to attend and take part in the discussions of the annual meetings of the World Bank and the International Monetary Fund (IMF) September 21-25. A CBK statement said the delegation is to attend meetings of related and subsidiary bodies including the International Monetary and Financial Committee of the IMF Board of Governors, the Development Committee, the Group of Ten, and the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development. The bank reported there would be sideline activities aimed at bolstering dialogue and communication and exchange of opinions among the private sector representatives, government delegations, and IMF and World Bank officials. The 24th meeting of the International Monetary and Financial Committee (IMFC), set for Saturday, is a main event, the CBK statement said. The discussions are to touch on developments of global economic performance, as well as measures the international community must take to prevent future financial crises. This would be via discussion of effective crisis management systems and means to restore market confidence. The annual meetings aim to discuss all issues at play and affecting the global economy through close review of the World Economic Outlook (WEO) and the Global Financial Stability (GFSR) reports, drawn by the IMF. The statement said the discussions would touch on IMF proposed and initiated adjustments of regulatory and supervisory mechanisms and related issues.(end) The Board of Governors of the International Monetary Fund and the Boards of Governors of the World Bank Group normally meet once a year to discuss the work of their respective institutions. The Annual Meetings, which generally take place in September-October, have customarily been held in Washington for two consecutive years and in another member country in the third year