Annual meetings of the World Bank Group and the International Monetary Fund were held between 9 October and 11 October 2015 in the Peruvian capital Lima.
The meetings saw the attendance of central bankers, finance ministers and development and private senior executives and academics from the member countries of both the World Bank Group and the IMF.
The Union Finance Minister Arun Jaitley in his capacity as India's Governor on Board of Governors of IMF and the World Bank led the Indian delegation that included RBI Governor Raghuram Rajan and Chief Economic Advisor Arvind Subramanian among others.
Key issues of discussions during the Fund-Bank meeting were
• The Role of World Bank and the IMF to support the 2030 agenda for Sustainable Development Goals (SDGs)
• Shareholding review of the World Bank and changes in the financing structure of International Development Agency (IDA)
• The stalemate in the implementation of the 2010 IMF quota and governance reforms
About annual Fund-Bank meetings
• It is primarily the meeting of the Boards of Governors of the IMF and the Boards of Governors of the World Bank Group.
• Its objective is to review the working of the institutions in the previous year and evolve strategies to address the current problems.
• They generally take place in September/October in Washington every year; however, they will be held in another member country in the third year.
• So far, India hosted the meetings only once. They were held in 1958 in New Delhi.
• The meetings were held in Tokyo (Japan) in 2012.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
When: 9-11 October 2015