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IMF and World Bank Annual Meetings

IMF and World Bank Annual Meetings

Published on October 10, 2013
Visit by Pierre Moscovici and Pascal Canfin to the United States

Washington, October 9 to 12, 2013

Pierre Moscovici, Minister of the Economy and Finance, will visit the United States for the IMF and World Bank Annual Meetings from October 10 to 12.

This visit will provide an opportunity to take stock of the global economic situation during the meetings of G7 and G20 finance ministers and central bank governors. Discussions will mainly focus on global recovery prospects, marked by varying dynamics among the G20 members, as well as the coordination of economic policies. The slowdown in growth in the emerging countries, possible changes in the monetary policies of the advanced economies as well as the budgetary situation of certain G20 members will be central to the discussions.

On this occasion, the IMF will present its growth forecasts for the global economy, which it revised upwards for Europe and France for 2013 and 2014, strengthening the credibility of the government’s forecasts contained in the finance bill.

The finance ministers of the member states of the Deauville Partnership for Mediterranean countries in transition will meet in order to continue the mobilization of bilateral and multilateral donors in support of the democratic processes.

The meetings of the International Monetary and Financial Committee and the Development Committee, the policy-making bodies of the IMF and the World Bank, will provide an opportunity to set out the strategic directions of these two institutions. The reform of the international financial system, the long-term financing of low-income countries, the increased lending capacity of the World Bank and the cross-cutting issues related to the fight against climate change and regional integration, topics regarding which France takes a proactive line, will be addressed in this context. On the sidelines of these meetings, Pierre Moscovici will sign the agreement establishing the initiative on the sustainable extractive industries in Africa, to which France will allocate $10 million.

During this visit, the minister of the economy and finance will meet with Mr. Joe Hockey, his new Australian counterpart, whose country will chair the G20 from December 1. He will also have bilateral meetings with Mr. Jack Lew, U.S. Secretary of the Treasury, Mr. Hyon Oh-Seok, Deputy Prime Minister responsible for Strategy and Finance of the Republic of Korea, and Mr. Yair Lapid, Minister of Finance of the State of Israel. In addition he will meet with the Managing Director of the IMF and the presidents of the World Bank and the African Development Bank.

During these numerous events, support for growth and employment, the continued political mobilization with respect to financial regulation issues, the promotion of tax cooperation and the fight against uncooperative jurisdictions, and the development of Africa will be priorities for France. The goal will be to confirm the progress made at the Summit of the Heads of State and Government in St. Petersburg and to strengthen international cooperation on these issues.

On the sidelines of this visit, Pierre Moscovici will host a conference on October 10 at 9:30 am at the Minda de Gunzburg Center for European Studies at the University of Harvard on the need to reform European economic governance. On October 11 at 8:30 am, he will give a speech in Washington at the Council on Foreign Relations on the economic situation in France and Europe (this speech can be followed live online at beginning at 2:30 pm in Paris).


Visit by Mr. Pascal Canfin to Washington (October 10 to 12, 2013)

Mr. Pascal Canfin, Minister Delegate for Development, will visit Washington from October 10 to 12 in order to participate in the IMF and World Bank Annual Meetings.

During his meetings with World Bank President, Mr. Jim Kim, and several senior officials from this institution, Mr. Canfin will discuss the World Bank’s new strategy focusing on shared prosperity and the fight against extreme poverty, as well as its role in promoting sustainable models of development and the situation in the Sahel.

The fight against climate change will also be one of the key issues that the minister delegate will discuss with Ms. Rachel Kyte, World Bank Vice President for Sustainable Development. He will also address this issue in his speeches at the Brookings Institution and before the Council of the Organization of American States (OEA), as well as during his meetings with think tank heads and business leaders.

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