Switzerland to attend IMF and World Bank 2014 Annual Meetings in Washington
Bern, 09.10.2014 - Federal Councillor Eveline Widmer-Schlumpf as Head of the Swiss delegation, Federal Councillor Johann N. Schneider-Ammann and Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, will attend the joint Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington from 10 to 11 October 2014. The key topic will be the global economic environment. The main topic for the Development Committee will be the promotion of shared prosperity for the broadest possible sections of the population as well as the World Bank's work on gender equality.
The International Monetary and Financial Committee of the IMF will focus on the key issue of the global economic environment. The Fund anticipates a somewhat weaker global economic recovery, which will prove to be increasingly uneven. Following an unexpected slump in the first six months of the year, the IMF anticipates solid growth for the United States. While the outlook for the eurozone depends very much on the individual countries, a moderate improvement in growth prospects is generally anticipated. In Japan, the increase in sales tax has had a stronger impact than intended on the economy. In the medium term, the risk of sustained weak global growth is rising. Moreover, there is increased uncertainty in the Ukraine and the Middle East as a result of ongoing geopolitical risks as well as in African countries hit by Ebola.
At the meetings, Switzerland will emphasise that measures for strengthening budgetary discipline and structural reforms that promote growth are key for preventing sustained weak growth. It will also point out that the IMF should push ahead with work on preparing a framework for the restructuring of government debt. Finally, Switzerland will make the point that a persistently expansive monetary policy should not alleviate the pressure for urgently required reforms, particularly in the structural field.
The Development Committee's meetings will focus on promoting shared prosperity for the broadest possible sections of the population. This approach is part of the new World Bank strategy that was approved in 2013 and came into force on 1 July 2014. Furthermore, an interim report on the implementation of the World Bank Group's gender equality agenda will be presented.
Switzerland supports the World Bank Group in its efforts to establish a broader basis for prosperity. It will call on the World Bank to adopt concrete strategies and clear guidelines for the creation of good jobs and the implementation of the shared prosperity goal. In particular, this involves launching measures that enable a larger section of society to share in economic growth and prosperity. With regard to the gender equality agenda, Switzerland welcomes the World Bank Group's strong commitment and encourages it to boost the economic and political roles of women and strengthen cooperation with the UN.
Address for enquiries
Mario Tuor, Head of Communications, State Secretariat for International Financial Matters SIF
tel. +41 58 462 46 16, mario.tuor@sif.admin.ch
Nicole Müller, Communications, Economic Cooperation and Development, State Secretariat for Economic Affairs SECO
tel. +41 58 464 09 10, nicole.mueller@seco.admin.ch
Olivier Bürki, Head of the Global Institutions Division, Swiss Agency for Development and Cooperation SDC
Publisher
The Federal Council
https://www.admin.ch/gov/en/start.html
Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html
State Secretariat for Economic Affairs
http://www.seco.admin.ch
Federal Department of Foreign Affairs
https://www.eda.admin.ch/eda/en/home.html
