Press Release: IMF Grants Observer Status to the European Central Bank
IMF News, December 22, 1998
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Bibliographic details
- Published: December 22, 1998
Key decision and timing
- Press Release No. 98/64
- Date: December 22, 1998
- The International Monetary Fund (IMF) has granted observer status to the European Central Bank (ECB) effective January 1, 1999.
- The decision was adopted by the IMF’s Executive Board.
Scope of invitation to the ECB
- The ECB will be invited to send a representative to Executive Board meetings on:
- IMF surveillance under Article IV over the common monetary and exchange rate policies of the euro-area;
- IMF surveillance under Article IV over the policies of individual euro-area members;
- The role of the euro in the international monetary system;
- The World Economic Outlook;
- International capital markets reports; and
- World economic and market developments.
Additional participation
- In addition, the ECB will be invited to send a representative to Executive Board meetings on agenda items recognized by the ECB and the IMF to be of mutual interest for the performance of their mandates.
- At Executive Board meetings, the ECB representative will have the status of observer.
Source: IMF Press Release No. 98/64, December 22, 1998.