MAS IN THE INTERNATIONAL ARENA
     
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Formulating and Implementing Global Standards . Box 18 – Meetings of Minds
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Box 19 – Singapore to Host IMF and
WB Meetings in 2006
   
 
Box 19
SINGAPORE TO HOST IMF AND WB MEETINGS IN 2006
 
The Boards of Governors of the IMF and WB, comprising finance ministers and central bank governors of 184 member countries, have endorsed Singapore's offer to host the annual meetings in 2006. The endorsement is recognition of Singapore as an international financial centre. Hosting the 2006 annual meetings of the IMF and WB demonstrates our deep commitment and support for the two institutions. The event will allow us to showcase the economic development and progress of Singapore and the region.

The annual meetings were last held in East Asia in 1997 when the region was in the midst of a financial crisis. Since then, many countries in the region have taken important steps to strengthen their financial systems and restructure their economies. It is therefore fitting that the meetings will be held in Asia in 2006. The meetings are a major international event with participation by finance ministers and central bank governors from member nations of the two institutions. The meetings also enable chief executives of leading financial institutions to attend and network at the many side events and seminars held in conjunction with the annual meetings.