When, where, and who?

The 2009 Annual Meetings of the Boards of Governors of the World Bank Group and the IMF will be held in Istanbul, Turkey on October 6-7, 2009. The Board of Governors for each institution consists of one governor from each of the institutions’ member countries, typically the finance minister, central bank governor, or minister of development. During the Annual Meetings, the Boards of Governors decide on major policy issues related to the future work of the two institutions, which are subsequently implemented by their respective Executive Boards.

The Annual Meetings will be preceded by meetings of the International Monetary and Financial Committee (IMFC), the advisory body of the IMF, and the Development Committee, a forum of the World Bank and the IMF that facilitates consultation and consensus-building on development issues. The IMFC will meet on Sunday, October 4, and the Development Committee on Monday, October 5. The communiqués that are issued after the meetings of these committees provide important guidance to the Executive Boards of the two institutions. The communiqués are widely reported in the media.

The Annual Meetings are usually held for two consecutive years at the IMF and World Bank headquarters in Washington, D.C. and every third year in another member country. The last three Meetings abroad were held in Singapore (2006); Dubai (2003); and Prague (2000). The 2009 Annual Meetings will be the second time that Turkey will host the Annual Meetings (the first time was in 1955, also in Istanbul), making Turkey the only country to host the Annual Meetings twice. A complete list of meeting sites is available on the Annual Meetings website.

About 13,000 people are expected to attend the Annual Meetings this year. This number includes the governors themselves and their alternates, as well as members of their delegations, observers from other intergovernmental organizations such as the Organization for Economic Cooperation and Development and the Organization of the Petroleum Exporting Countries, to name just two, representatives from financial institutions and bodies, such as the Financial Stability Board, and various visitors, journalists, and representatives of civil society organizations. The World Bank and IMF work closely with the Turkish authorities to organize the Meetings and facilitate participation by various stakeholders in the events related to the Meetings.

What’s on the agenda?

The International Monetary and Financial Committee will advise the IMF’s Board of Governors and will discuss the outlook for the global economy, developments in financial markets, as well as other pressing issues within the IMF’s mandate. The Development Committee will advise the Boards of Governors of the Bank and Fund on critical development issues and on the financial resources required to promote economic development in developing countries. At the conclusion of each of these meetings, communiqués will be released, and will be followed by a press conference. For details, see the Annual Meetings’ schedule of events.

Following these meetings, a plenary session will be held, which will feature major addresses from the host government, heads of institutions, and the Governors of the Bank and Fund.

Other events

Various country groups, such as the The Group of Twenty (G-20), the Group of 7 (G-7), and the Intergovernmental Group of Twenty Four (G-24) also take the opportunity to meet ahead of the Annual Meetings. For more details, see the Guide to Committees, Groups, and Clubs.

In addition to major press conferences by the Managing Director of the IMF and the President of the World Bank, senior staff from both institutions will hold press briefings and seminars on global and regional economic outlooks and other topical issues. For details, see the press schedule.

On October 3-5, a Program of Seminars, also held in Istanbul, will offer participants the opportunity for in-depth discussions on current issues that are of relevance to the world economy and financial stability. The Program is a premier global forum where private sector executives from around the world, high-level policymakers, and other leaders in the international development and financial fields engage in dialogue to strengthen cooperation in the global economy. For details, see the Program of Seminars webpage. The Per Jacobsson lecture, which is co-sponsored by the Turkish Bankers Association, will be held on October 4 and will be delivered by Mr. Kemal Dervis.

A Civil Society Policy Forum will be held on October 3-6. The Forum will comprise a series of policy dialogue sessions which bring together Bank and Fund staff, civil society representatives, government officials, and others to discuss important issues being addressed during the Annual Meetings. Some sessions are organized by the IMF, some by the World Bank, and some by civil society organizations. Accredited civil society representatives will also be able to attend the Program of Seminars, interact with the press, and meet with government officials and Fund and Bank staff. For more information, see the World Bank’s civil society website.