Semi Annual Meetings (Spring Meetings) of the World Bank (WB) and the International Monetary Fund (IMF) was held in the World Bank and IMF Headquarters in Washington DC during 13 – 17 April, 2016. Finance Ministers representing almost 189 member countries were represented at this meeting. The meetings focused its attention on international economic and financial developments, the state of the global economy, geopolitical tensions, refugee crises and its impact on global landscape, investing in quality infrastructure needed to promote private investment, enhancing pandemic prevention and preparedness, and building resilience to climate change related vulnerabilities.
A Delegation led by Hon. Ravi Karunanayake, Minister of Finance Sri Lanka participated at the meetings. Finance Minister attended a number of discussions in addition to the meetings associated with the main conferences. Accordingly, Hon Minister has had discussions with Ms. Annette Dixon World Bank’s Vice President for South Asia Region, Mr. Subash Chandra Grag Executive Director of World Bank for Sri Lankan constituency, Mr. Subir Gokarn Executive Director of IMF for Sri Lankan constituency, Ms. Nisha Biswal Assistant Secretary of State for South and Central Asian Affairs in the united States Department of State, and other senior officials on financing future development programmes in Sri Lanka.
A number of Meetings were held with the Executive Directors of World Bank constituencies with major voting power with a view to convince them that Sri Lanka’s development path still needs concessional financing of International Development Agency (IDA) of World Bank despite its graduation to upper middle income status. Meanwhile Finance Minister Ravi Karunanayake briefed the delegates on the future development programme of Sri Lanka at the plenary session of the annual meeting of the World Bank and International Monetary Fund.
Minister Karunanayake attended the Intergovernmental Group of Twenty Four Countries (G-24) Ministers and Governors Meeting where he functioned as the Second vice Chair of the Group. The governing body of the G-24 meets twice a year, during the Spring and Annual meetings of the IMF and WB. Minister Karunanayake expressed the commitment and fullest cooperation of the Government of Sri Lanka for the initiatives taken by the G-24.