TOKYO, Oct. 12 (Xinhua) -- The annual meetings of the International Monetary Fund (IMF) and the World Bank Group officially kicked off on Friday morning in Tokyo and high-ranking finance, banking officials and experts from 188 members will discuss solutions for global economic recovery.
The IMF has downgraded the outlook of global economic growth for 2012 by 0.2 percent to 3.3 percent in the latest report before the meetings as the recovery is weaker than expected.
The IMF wants to provide a platform to the players, both new ones from the emerging market and traditional ones from the advanced market, to find a way to play a positive sum game and create a healthy condition for economic growth in the future, said IMF Managing Director Christine Lagarde at the opening ceremony of the annual meetings.
The President of the World Bank Group Jim Yong Kim made a speech to the Bank's shareholders to express his wills and determinations on eliminating extreme poverty by making the institution as a solutions Bank, in spite of extraordinary challenges in the global economy, through close work with all partners.
The annual meetings, which generally take place in September- October, have customarily been held in Washington for two consecutive years and in another member country in the third year.
IMF calls on members to cooperate to improve global economy
TOKYO, Oct. 11 (Xinhua) -- The International Monetary Fund (IMF) called on all players to cooperate closely to improve the global economy Thursday before 2012 IMF annual meetings as the global economy recovered slowly than the IMF's forecast in April due to many uncertainties.
"The biggest difference from the spring meeting, is the IMF found the slowdown of growth is not only affecting the advanced economies, but also the emerging markets for the correlated effect, particularly in Asia," Christine Lagarde, IMF Managing Director, told a press conference. Full story
IMF downgrades forecast for global economic growth
TOKYO, Oct. 9 (Xinhua) -- The International Monetary Fund (IMF) Tuesday downgraded the forecast for global economic growth of 2012 to 3.3 percent in the World Economic Outlook unveiled in Tokyo before the IMF-World Bank 2012 annual meetings.
"The world recovery continues, but it has weakened further. In advanced countries, growth is now too low to make a substantial dent in unemployment, and in major emerging countries, growth which had been strong earlier has also decreased," said the IMF Chief Economist Olivier Blanchard on the press conference. Full story