Finance Minister Prof. Edward Scicluna attended the Annual Meeting of the World Bank Group (WB) and the International Monetary Fund (IMF) held in Washington between October 11th and October 13th, 2013. These annual meetings each year bring together ministers of finance and development, central bankers, private sector executives, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.

 

 

This year the meetings, held against the backdrop of a subdued global recovery especially in the emerging economies, discussed steps to spur strong, sustainable, and balanced growth.

While in Washington, Prof. Scicluna met with various top officials from the global sovereign rating team of each of the three leading rating institutions, namely Standard and Poor’s, Moody’s and Fitch IBCA.

 

 

Prof. Scicluna also met with the Executive Director of the World Bank, Mr. Piero Cipollone, and with the IMF Executive Director Mr. Andrea Montanino, as well as with Dr Frank Richter and Mr. Klaus Rupprath from the NRW Bank, a development bank.

During his visit in Washington, Prof. Scicluna was also interviewed by the Financial Times.

“In each of our discussion meetings we were pleased to note the great interest shown in the story we had to tell about Malta since the elections, especially the resolve with which the Government is aiming to reach its fiscal and development objectives. The Chinese, Libyan and US government interest in using Malta’s relative stability in the region and using it as a strategic base from where to operate from was noted very positively.” said Prof Scicluna.

The Ministerial delegation included the Governor and Deputy-Governor of the Central Bank of Malta, Prof Josef Bonnici and Mr. Alfred Demarco respectively, and Mr. Alfred Mifsud as a financial consultant to the delegation.

 

 

               

– Sunday, 13th October, 2013