The annual meeting of the International Monetary Fund (IMF) and the World Bank (WB) began in Bali island, Indonesia, on October 8. (Photo: IMF)Jakarta (VNA) – The annual meeting of theInternational Monetary Fund (IMF) and the World Bank (WB) began in Bali island,Indonesia, on October 8.
The event brings together central bank leaders, financeministers, business executives, representatives of civil society organisationsand academics of 189 member countries of the IMF and WB. The total number ofparticipants is estimated to reach 34,000.
Leaders of 10 member countries of the Association ofSoutheast Asian Nations (ASEAN) will also hold a summit on the sidelines of theIMF-WB meeting, initiated by the host country.
The meeting will discuss various global economic issues,such as trade imbalance, financial market volatility, inequality, povertyeradication, economic development, aid effectiveness, women empowerment in thework place as well as initiatives to improve trust in the system ofmultilateralism.
It takes place against the backdrop of growinguncertainties in the global economy. The sharp fluctuations in the currenciesof emerging markets in recent days together with the escalation of trade disputes,especially the trade war between the US and China, can further drag down theglobal economic growth if no effective measures are taken to solve theproblems.
Indonesia expects to use this event to not only showcaseits economic achievements as the largest economy in Southeast Asia but alsocall for more foreign investment. Through the meeting, the country also wantsto promote its culture and popular tourist destinations.
The event will run through October 14.–VNA
VNA
