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Past Event

A Joint Brookings/Center for Global Development Press Briefing

Preview of IMF-World Bank Meetings: What to Expect

Global Governance, Global Economics, Development

Event Summary

On the eve of another controversial meeting of the International Monetary Fund and the World Bank in Washington, the Brookings Institution and the Center for Global Development (CGD) are jointly presenting a press preview of the issues to be discussed at the conference.

Event Information

When

Monday, September 23, 2002
2:00 PM to 3:30 PM

Where

Peter G. Peterson Conference Center
Institute for International Economics
1750 Massachusetts Ave., NW
Washington, DC 20036
Map

Contact: Office of Communications

E-mail: communications@brookings.edu

Phone: 202.797.6105

The briefing will focus primarily on the two major issues likely to dominate the Sept. 28-29 IMF-World Bank sessions—development aid to poor countries and problems (both current and long-term) in the world's financial architecture.

Specific issues to be discussed by the panel include:

  • Bush administration policies toward developing nations, particularly the new Millennium Challenge Account
  • Development success stories
  • Longer-term development challenges that may not be solved by money alone
  • After the Financing for Development, G8, and World Summit on Sustainable Development conferences, will the Bank/Fund meetings be business as usual?
  • Is the new attention to the poorest countries at the expense of unresolved crises in middle-income countries?
  • What changes need to be made in international financial architecture?
  • Is there a danger that financial market contagion may lead to ideological contagion?

In addition to discussing these and other issues, the panelists will answer questions from attendees.

Transcript

ROBERT E. LITAN: We want to welcome you here for hopefully an informative discussion about what's going to happen this weekend at the annual Bank and Fund meeting. So we have a terrific panel to answer your questions. I'll introduce them in a second. But basically the format is going to be short introductory points, no more than five minutes per person. We've sort of split it up by expertise, and it will become evident what individual people want to talk about. And then we're going to go to your questions, and hopefully we'll have an interesting dialogue thereafter.

Short introductions, all these people are either affiliated in some combination with the Institute for International Economics, the Brookings Institution, or the Center for Global Development, and in some cases you see some people are affiliated with more than one of them. So, I'm not going to go into long detail about who all these people are, but I'm going to start at the far right, John Williamson at the IIE is one of the foremost experts on exchange rates, developed the target zone proposal, and I anticipate John will be talking about exchange markets. That's just a guess.

We have next to him—he's just changed his agenda. You don't have to, John—Carol Graham, who is the director of our global governance program at the Brookings Institution, who has written widely on third world economic development issues.

And so has our partner here, right there, Nancy Birdsall, who is president of the Center for Global Development. She used to be at the World Bank, and is one of the world's foremost experts on economic development. And we want to thank Nancy also for helping to put together this conference.

To my immediate left is Lael Brainard, who is deputy director of the National Economic Council during the Clinton administration, he's an expert on trade and economic development issues, and one of my partners I work with at Brookings.

And far left, not necessarily ideologically, is Michael Kremer, at Harvard and also at Brookings, and Michael has written widely on many, many topics. But the reason he's here is, he's done a lot of work on public health issues in the third world, also education issues.

The complete transcript is available in PDF form (PDF—63KB)

Participants

Panelists

Carol Graham

Senior Fellow, Foreign Policy, Global Economy and Development

John Williamson

Senior Fellow, Institute for International Economics

Lael Brainard

Vice President and Director, Global Economy and Development

Michael Kremer

Senior Fellow, Global Economy and Development

Nancy Birdsall

President, Center for Global Development; Nonresident Senior Fellow, The Brookings Institution

Robert E. Litan

Senior Fellow, Economic Studies

William Easterly

Visiting Fellow, Global Economy and Development

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