Minister Chambers travels to Washington DC for the Annual Meetings of the IMF and World Bank

The Minister for Finance Jack Chambers T.D. is in Washington today (Wednesday) for a two day programme to represent Ireland at the Annual Meetings of the International Monetary Fund (IMF) and World Bank.

The Annual Meetings provide the opportunity for finance ministers and central bank governors from around the world to meet and discuss global economic and development challenges.

This year's Annual Meetings take place 80 years since the creation of the IMF, which is a key element in the global finance safety net, and the World Bank, which seeks to end extreme poverty and boost shared prosperity on a liveable planet.

Speaking ahead of the Annual Meetings, Minister Chambers commented:

"As Minister for Finance and Ireland's Governor at both the IMF and World Bank, I am delighted to participate in this year's Annual Meetings in Washington D.C.

Eighty years after the initial 44 countries met at Bretton Woods in New Hampshire, I believe that the importance of the IMF and World Bank persists. Then, even as global conflict continued, there was an understanding that multilateralism would be critical to securing an effective and resilient peace. Now, more than ever, we need these institutions to help address the global challenges we face.

During my visit, I look forward to a series of constructive engagements with Ministerial colleagues and officials at the IMF and World Bank on how best to address economic challenges and further our shared goals."

During the Annual Meetings, Minister Chambers will meet business leaders and senior officials of the IMF and World Bank; participate in the sixth Ministerial Roundtable Discussion for Support for Ukraine; and attend the Coalition of Climate Ministers for Climate Action.

The Annual Meetings will also provide an opportunity to discuss recent developments at the IMF and World Bank which include agreement on financing for the IMF's Poverty Reduction and Growth Trust, reducing the surcharges applied to IMF loans and the interest rates charged on World Bank loans, and the upcoming replenishment of the World Bank's International Development Association.

ENDS