Vietnamese Prime Minister Nguyen Xuan Phuc (fourth, left) and other heads of delegations at the IMF-WB annual meetings in Bali (Photo: VNA)Bali (VNA) –Prime Minister Nguyen Xuan Phuc joined leaders of other ASEAN countries at theopening ceremony of the annual meetings of the International Monetary Fund(IMF)-World Bank (WB) Group in Bali, Indonesia, on October 12.
The event also saw the presence of financeministers and central bank governors of 189 member countries of IMF and WB,leaders of international organisations, representatives of many enterprises andsocial organisations, and researchers from around the world.
Themed “Harnessing disruption to shape inclusiveeconomies of the future”, the annual meetings are scheduled to discuss manyemerging issues in the global economy, such as the impact of trade wars oninternational and regional economic growth prospects; financial and monetarypolicy coordination; as well as the impact of the Fourth Industrial Revolutionon economic growth, financial stability, employment, and social equality andprogress.
At the event, the IMF released the WorldEconomic Outlook Update, predicting a global economic growth rate at 3.7percent in 2018 and 2019 due to the growth slowdown in some key economies underthe influence of the tightened monetary policy in the US, escalating tradetensions, and growing oil prices.
Addressing the opening session, IMF ManagingDirector Christine Lagarde and WB Group President Jim Yong Kim called oncountries to improve resilience in their economies; promote structural reforms;support multilateralism; oppose protectionism; enhance global cooperation;reduce global imbalances; and make use of the Industry 4.0 to servesustainable, equal, and inclusive development.–VNA
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