About us
Mission
The IMF’s Offices in Europe, located in Brussels and Paris, serves as liaison to EU and euro-area institutions and governments, as well as international organizations, academics, civil society, and media.
Its main tasks include:
• Engaging with European policymakers and other interlocutors on euro area and EU policies; as well as fostering a dialogue on global economic issues;
• Supporting IMF operations in Europe, including policy advice, lending arrangements, technical assistance, and recruitment efforts;
• Helping to coordinate communication and outreach activities across the region.
History
Immediately after its creation, the Fund played a key role in various postwar initiatives, such as the creation of the European Payments Union (EPU) and the Organization for European Economic Cooperation (OEEC, which in 1960 became the OECD). The Office in Europe was created in Paris in 1948 to serve as observer and personal representative of the Managing Director at these new institutions. Over time, the functions of the office expanded to include wider liaison with European-based institutions, external relations, and outreach to academic institutions, NGOs, and the public.
The IMF Europe Office was established in 2013, comprising the Paris Office and the newly created Brussels Office
Europe and the IMF
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October 6, 2023
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September 15, 2023
Series:Country Report No. 2023/330
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IMF Executive Board Concludes 2023 Article IV Consultation with the Republic of Latvia
September 12, 2023
The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Latvia. Latvia is facing an inflation shock, slow growth, and geopolitical challenges. After averaging 17.2 percent in 2022, headline inflation remained elevated at 12.3 percent y/y in May, largely driven by high energy and food price increases. Core inflation also accelerated to 12.4 percent y/y in May, as the second-round effects of energy prices were broad-based and much stronger than anticipated. The tight labor markets will continue to push up wages, thereby adding to inflationary pressures. Real GDP growth slowed to 2.8 percent in 2022 from 4.3 percent in 2021, largely reflecting lower increase in inventories and slower fixed investment growth. The government will have to continue to deal with the spillovers in the Baltic region from the Russian invasion of Ukraine and the impact of sanctions imposed on Russia and Belarus, the cost-of-living crisis, and energy security.
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September 8, 2023
Series:Country Report No. 2023/325
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Managing Director's Remarks to the Three Seas Initiative
September 6, 2023
President Iohannis, thank you for the opportunity to share a few thoughts today with leaders from the countries unified around the Three Seas Initiative. First, to acknowledge that your meeting takes place at a challenging time, a time of weaker growth and widening divergence among regions and sectors of the economy.