On 3-5 June 2016, Kyiv has been host the IMF-World Bank
Constituency Meetings 2016 represented by common executive directors and led by
the Netherlands.
More than 70 foreign officials from 15 countries,
including heads of central banks, finance ministers and their deputies were to
visit Ukraine.
As the head of the Ukrainian delegation at the IMF,
Governor of the National Bank of Ukraine Valeria Gontareva officially opened the meeting on 4 June. The President of Ukraine Petro Poroshenko has been welcome participants of the event.
First Deputy Managing Director of the IMF David
Lipton, the World Bank Vice President Cyril Muller and the World Bank Vice
President Jan Walliserare among special guests and speakers of the
meeting.
The First Vice Prime minister and Minister of Economic
Development and Trade Stepan Kubiv, the Minister of Finance Olexandr Danylyuk,
the Minister of Temporarily Occupied Territories and Internally Displaced
Persons Vadym Chernysh as well as representatives of the
authorities involved in the cooperation with the IMF and the World Bank were also to take part in the event.
"We’ll present plans to achieve macroeconomic
stability, report on reforms and achievements in the financial sector, as well
as discuss existing challenges and further steps to be taken to address them
during the meeting, - noted the NBU Governor Valeria Gontareva. - The
meetings’ agenda includes the following issues: ensuring a sustainable economic
future for the Constituency member countries, drivers and trends on global
commodity markets as well as economic implications of migration"
Note
IMF Constituency
The IMF comprises 189 member states split into groups
in order to facilitate coordination. The respective group is led by a
country with the highest quota in the group.
Ukraine is a member of the Dutch Constituency led by
the Netherlands. This Constituency comprises 15 countries, including the
Netherlands, Ukraine, Belgium, Bulgaria, Bosnia and Herzegovina, Armenia,
Georgia, Israel, Cyprus, Luxembourg, Macedonia, Moldova, Romania, Croatia and
Montenegro.
The interests of the IMF Constituency member countries
in the IMF Executive Board are represented by Mr. Menno Snel, IMF
Executive Director for the Dutch Constituency.
WB Constituency
Similarly to the membership in the IMF Dutch
Constituency, Ukraine is a member of the WB Constituency led by the
Netherlands. This Constituency comprises 13 countries, including all the IMF
Dutch Constituency member countries, except Belgium and Luxembourg. The
interests of these Constituency member countries in the WB Executive Board are
represented by Mr. Frank Heemskerk, Executive Director at the Board of the
World Bank Group.
IMF-World Bank Constituency
Meetings
The IMF-World Bank Constituency meetings represented
by common executive directors are held annually in one of the member
countries on rotation basis.
These meetings are traditionally an important annual
event bringing together high-level officials and leading experts from the
European and global financial community. The constituency meetings are
usually attended by government representatives from IMF and WB member
countries.
The head of the Ukrainian delegation at the group of
IMF members is the Governor of the National Bank of Ukraine Valeria Gontareva and
the head the Ukrainian delegation at the group of WB members is Minister of
Finance of Ukraine Olexandr Danylyuk.
To note, the Constituency Meetings 2014 were
scheduled to be held in Ukraine. However, the meeting in Ukraine was
rescheduled for 2016 due to the hostilities in the east of Ukraine.
The National Bank of Ukraine and the Ministry of
Finance of Ukraine are acting organizers of this event.
Related post: Ukrainian President noted support of IMF and WorldBank in implementation of necessary reforms in Ukraine
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