Istanbul to host 2009 IMF meetings

The 2009 Annual Meetings of the Boards of Governors of the World Bank Group and the IMF will be held in Istanbul, Turkey today and tomorrow.

The IMF and World Bank annual meetings which is held in every October with participation of finance ministers, central bankers, and other top economists of 186 member countries.

These meetings is held outside Washington, D.C. in every three years. Turkey will host the meetings for a second time. It was the host country for the meetings in 1955.

“All eyes will be on Istanbul,” said Murilo Portugal, Deputy Managing Director at the IMF, on a recent trip to Turkey. “The annual meetings are a unique opportunity to discuss issues of great global economic importance, make decisions and provide guidance on the work of the two institutions.”

The IMF describes itself as “an organization of 186 countries (Kosovo being the 186th, as of June 29, 2009), working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty”.

With the exception of Taiwan (expelled in 1980), North Korea, Cuba (left in 1964), Andorra, Monaco, Liechtenstein, Tuvalu and Nauru, all UN member states participate directly in the IMF. Most are represented by other member states on a 24-member Executive Board but all member countries belong to the IMF’s Board of Governors.

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