{ "title": "Transcript of a Press Briefing by Thomas C. Dawson, Director, External Relations Department, IMF", "publication": "IMF News, April 12, 2002", "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/28/04/54/tr020412", "canonical": "https://www.imf.org/en/news/articles/2015/09/28/04/54/tr020412", "overlayPath": "/en/news/articles/2015/09/28/04/54/tr020412/index.md", "summary": "Briefing intended to assist preparation for the April 20-21 meetings of the IMFC (International Monetary and Financial Committee) and the Development Committee.", "publishDate": "2002-04-12", "sections": [ { "heading": "Spring Meetings schedule and logistics", "content": "- Briefing intended to assist preparation for the April 20-21 meetings of the IMFC (International Monetary and Financial Committee) and the Development Committee.\n- Key dates and events:\n - April 12, 2002: date of this briefing.\n - April 17: luncheon address by the Managing Director at approximately 1:00 p.m. at the National Press Club; he will take questions after the address.\n - April 18: World Economic Outlook will be released; Ken Rogoff will brief the press on the Outlook on Thursday morning. An embargoed access note has been circulated.\n - April 20: IMFC meeting starts at the lunch hour on Saturday; anticipated conclusion in the early evening with a press conference by Managing Director Kohler and Gordon Brown.\n - April 21: Development Committee meets on Sunday; a joint dinner of the IMFC and the Development Committee is anticipated.\n- Logistics and media contact:\n - Media Relations briefed television networks; print media logistical questions should be directed to the Media Relations Division.\n - The tentative schedule of events is posted on the IMF website and should be consulted regularly.\n- Embargo procedures:\n - Briefing embargoed until about 15 minutes after conclusion; embargo to be lifted at 10 minutes after 3:00." }, { "heading": "IMFC agenda and institutional priorities", "content": "- Broad IMFC discussion items:\n - World Economic Outlook.\n - Crisis prevention issues and crisis resolution mechanisms.\n - Ongoing efforts to address poverty in the world's poorest countries.\n - Anti-money laundering and combating the financing of terrorism.\n- Institutional character:\n - The meetings are described as the semi-annual opportunity for membership to give a \"report card\" and guidance to the Fund; not expected to produce radical reform but to guide evolution of the institution.\n- Membership and consultation:\n - Weekend meetings are part of ongoing efforts by the Fund and the Bank to consult with the Fund's 183 member countries on issues of interest and evolving operational matters." }, { "heading": "Sovereign debt restructuring and the SDRM", "content": "- SDRM (Sovereign Debt Restructuring Mechanism) status:\n - Crisis resolution is on the IMFC agenda; the SDRM is one of the elements of crisis resolution and is \"certain to be a discussion item.\"\n - No expectation that decisions on the SDRM will be made at these meetings; expectation is to get guidance on how to proceed with sovereign debt restructuring issues.\n- Rationale:\n - First Deputy Managing Director Ms. Krueger has presented that there is a \"hole in the system\" for sovereign debt restructuring and that additional work/mechanism is needed.\n- Process expectations:\n - The IMFC will likely provide guidance to the Fund on further steps regarding crisis resolution and sovereign debt restructuring." }, { "heading": "Argentina: missions, negotiations, and possible next steps", "content": "- Current posture:\n - A mission was in Argentina and was anticipated to return shortly before the Spring Meetings to allow discussion during the meetings.\n - The mission is characterized as a negotiating mission.\n- Potential next steps:\n - If things go well at the Spring Meetings, a follow-on negotiating mission could go down \"shortly after the Spring Meetings\" to start working on an actual draft letter of intent.\n - No commitment that such a mission will produce a signed agreement; sequence described: mission → consultations during Spring Meetings →, if favorable, another negotiating mission to draft a letter of intent.\n- Public communications:\n - No plan announced for a Managing Director statement on Argentina during the meetings, though it is expected that journalists will ask questions and that Argentina will be discussed by Ministers.\n - Reference to a statement by Anoop Singh issued on Wednesday night and expectation of a concluding mission statement from Mr. Singh before he leaves Argentina (anticipated \"sometime around the middle of next week\").\n- External commentary:\n - Mike Mussa's report criticizing the IMF's handling of Argentina—particularly the August 2001 tranche—was read by IMF staff; the IMF views it as part of a range of responsible opinion and notes he was consulted in academic sessions on Argentina." }, { "heading": "Country program reviews: Turkey, Indonesia, Venezuela", "content": "- Turkey:\n - The Board will meet on Monday for the review of the Turkish program.\n - Assessment in briefing: \"performance objectives criteria appears to have gone really rather well\" with evidence of declines in interest rates and relative strength of the Turkish currency.\n - Growth figures for 2001 were disappointing: referenced \"last year's negative growth rate\" of \"minus 9.4\" and noted that targets will be discussed at the next review; some end-2001 data remain preliminary.\n - A release on the Board review expected \"late Monday or early Tuesday.\"\n- Indonesia:\n - Questions raised on whether an additional tranche or new loan negotiations were underway; no specific update available at the briefing (\"We'll get back to you. I'm not sure I have any more on that.\").\n - Paris Club action referenced as a \"lagging indicator\" relative to Fund actions.\n- Venezuela:\n - IMF concerned about human developments and loss of life.\n - No Fund-supported program; recent relations mainly involve surveillance.\n - Fund missions visited Caracas in December of the previous year; a small team was conducting annual reviews at the time of the briefing.\n - IMF stands ready to assist the new administration as appropriate." }, { "heading": "Protests and security around the Spring Meetings", "content": "- Protest risk:\n - Given events at recent meetings, IMF is prudently aware of the possibility of protests and taking precautions.\n - Current assessment: while demonstrations are planned in the Washington area around the meetings, there is no sense of the level of interest specifically regarding the Fund and Bank; expectations are for a lower level of activity compared to \"the events of two years ago\" and probably not even like \"last year.\"\n - Many demonstrations reportedly focus on issues other than the Fund/Bank (for example, anti-war issues).\n- Security posture:\n - IMF will not disclose detailed security measures.\n - Expectation of heightened security compared to three years ago, but not of the same nature as two years ago or possibly last year.\n- Meeting format:\n - Meetings have been compressed (IMFC and G-7/G-8 sessions now meeting on the same day); compression could sharpen focus and shorten interventions." }, { "heading": "Media access and practical notes", "content": "- Press Center:\n - The IMF Press Center is a password-protected site for working journalists.\n- Contacts provided in transcript header:\n - IMF EXTERNAL RELATIONS DEPARTMENT — Public Affairs — Media Relations.\n - E-mail: publicaffairs@imf.org and media@imf.org\n - Fax: 202-623-6278\n - Phone: 202-623-7100\n- Embargo and availability:\n - The briefing was embargoed until about 15 minutes after conclusion; embargo to be lifted at 10 minutes after 3:00.\n\nTranscript of a Press Briefing by Thomas C. Dawson, Director, External Relations Department, International Monetary Fund — April 12, 2002\n\n---\n\n\n References\n\n- Argentina and the IMF\n- Indonesia and the IMF\n- Republic of Türkiye and the IMF\n- República Bolivariana de Venezuela and the IMF\n- Transcripts\n- Thomas C. Dawson\n- PRESS CENTER\n- View\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/28/04/54/tr020412" } ], "bullets": [ "[Markdown version](/en/news/articles/2015/09/28/04/54/tr020412/index.md)", "[Structured JSON version](/en/news/articles/2015/09/28/04/54/tr020412/index.json)", "[Bundle manifest](/en/news/articles/2015/09/28/04/54/tr020412/bundle-manifest.json)", "Published: April 12, 2002", "Briefing intended to assist preparation for the April 20-21 meetings of the IMFC (International Monetary and Financial Committee) and the Development Committee.", "Key dates and events:", "Logistics and media contact:", "Embargo procedures:", "Broad IMFC discussion items:", "Institutional character:", "Membership and consultation:", "SDRM (Sovereign Debt Restructuring Mechanism) status:", "Rationale:", "Process expectations:", "Current posture:", "Potential next steps:", "Public communications:", "External commentary:", "Turkey:", "Indonesia:", "Venezuela:", "Protest risk:", "Security posture:", "Meeting format:", "Press Center:", "Contacts provided in transcript header:", "Embargo and availability:", "[Argentina and the IMF](http://www.imf.org/external/country/ARG/index.htm)", "[Indonesia and the IMF](http://www.imf.org/external/country/IDN/index.htm)", "[Republic of Türkiye and the IMF](http://www.imf.org/external/country/TUR/index.htm)", "[República Bolivariana de Venezuela and the IMF](http://www.imf.org/external/country/VEN/index.htm)", "[Transcripts](https://www.imf.org/en/news/searchnews)", "[Thomas C. Dawson](https://www.imf.org/external/np/bio/eng/td.htm)", "[PRESS CENTER](http://presscenter.imf.org/)", "[View](https://www.imf.org/external/mmedia/view.asp?eventID=93)", "[https://www.imf.org/en/home](https://www.imf.org/en/home)" ], "alternates": { "markdown": "/en/news/articles/2015/09/28/04/54/tr020412/index.md", "json": "/en/news/articles/2015/09/28/04/54/tr020412/index.json", "bundleManifest": "/en/news/articles/2015/09/28/04/54/tr020412/bundle-manifest.json" }, "generatedAtUtc": "2026-09-27T11:32:12.458Z" }