By Matters India Reporter
Bali: The 2018 annual meetings of the International Monetary Fund (IMF) and World Bank Group (WBG) will be held at Bali Nusa Dua, Indonesia. October 12-14.
The annual meetings bring together central bankers, ministers of finance and development, private sector executives, civil society, media, and academics to discuss issues of global concern, including the world economic outlook, global financial stability, poverty eradication, jobs and growth, economic development, aid effectiveness and climate change.
The IMF World Bank Meeting (IMF Event 2018) is an annual meeting to discuss the work on global financial and economic issues, including global economic outlook, poverty eradication, and aid effectiveness. Every year, the IMF and World Bank hold their annual meetings for two consecutive years in the USA and the third year in a member country.
For this time, Indonesia is selected as the host country for IMF Event 2018.
The IMF Event 2018 in Bali is expected to draw around 12,000 – 15,000 participants. They include 3,500 delegates from 189 member countries, 1,000 media representatives, and more than 5,000 participants representing various fields from the private sector, the banking community, until government and academic institutions,
Considering the importance of this important Bali event, Indonesia government has taken serious measures to ensure all facilities including Bali MICE venues and infrastructure are well prepared. This includes the construction of a roundabout and an underpass from the airport to Nusa Dua in order to reduce heavy traffic flow. Moreover, the government also increases garbage cleaning activities to remove excess wastes on beaches and streets. This is aimed to create a cleaner and eye-pleasing environment for the delegates.
In October 2015, the IMF-World Bank Annual Meeting in Peru selected and agreed to stage its 2018 October Annual Conference on the entrancing island of Bali, Indonesia.
The IMF and World Bank habitually hold their annual meetings for two consecutive years in the USA and the third year in a member country.
The agreement with Indonesia was signed in Peru by then Finance Minister, Bambang Brodjonegoro and Bank Indonesia’s Governor, Agus Martowardojo with IMF Managing Director Christine Lagarde, and World Bank President Jim Yong Kim.
The number of delegates expected to attend the meeting in 2018 is estimated at between15,000 to 18,000 persons. But considering the magnetic pull of Bali, the Indonesian is preparing to receive around 20,000 delegates, comprising Central Bank Governors from member countries, Finance ministers, business executives, civil society representatives, the world media, and academics from around the world, with main agenda topic of discussion centering around global economic issues.
Bali is one of Indonesia’s popular tourist destinations. It attracted over five million visitors in 2017. Many of them are drawn to the island for its unique Hindu temples, among others.
The 2019 Spring meetings of the World Bank Group and the IMF will be held in Washington, D.C. April 12-14, 2019.