Switzerland at IMF and World Bank 2019 Annual Meetings and G20 Finance Ministers Meeting in Washington

The Federal Council

Bern, 17.10.2019 - President Ueli Maurer as Head of the Swiss delegation, Federal Councillor Guy Parmelin and Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, will attend the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington from 18 to 19 October 2019. Important bilateral talks are likewise planned. President Ueli Maurer and SNB Chairman Thomas Jordan will attend a meeting of G20 finance ministers and central bank governors in the run-up to the Annual Meetings.

In the IMF Steering Committee, the finance ministers and central bank governors will discuss the economic policy challenges and the resulting need for action on the IMF's part. Switzerland is committed to a resolution of trade tensions and to reforms that promote growth. Meeting for the first time under the leadership of the new Managing Director, Kristalina Georgieva, the IMF is to complete the 15th quota and resource review.

The World Bank's Development Committee will discuss the potential of global value chains to contribute to economic development and poverty reduction. Switzerland will stress the need for predictable trade policies and improved framework conditions in developing countries. As Switzerland's governor on the board of the World Bank Group, Federal Councillor Guy Parmelin will sign a programme in Washington that will help to improve transparency and governance in the commodities sector.

In the run-up to the Annual Meetings, President Ueli Maurer and SNB Chairman Thomas Jordan will attend a meeting of G20 finance ministers and central bank governors. Regarding the taxation of the digital economy, Switzerland is committed to a multilateral solution that also takes account of the needs of small countries with significant value-added. In terms of financial system innovations, including possible new digital payment methods (particularly Libra), the focus will be on regulatory issues. For example, compatibility with existing principles, especially with regard to combating money laundering, has to be ensured.

Following the Annual Meetings, the Head of the FDF will for the first time represent Switzerland in the Coalition of Finance Ministers for Climate Action. The Coalition supports principles that align budgetary policy with the objectives of the Paris Agreement. The meeting will also provide an opportunity for bilateral contacts among finance ministers.

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Address for enquiries

Peter Minder, Head of FDF Communications
Tel. +41 79 437 73 61, peter.minder@gs-efd.admin.ch

Urs Wiedmer, Head of EAER Communications
Tel. +41 79 691 95 59, urs.wiedmer@gs-wbf.admin.ch

FDFA Information
Tel. +41 58 462 31 53, info@eda.admin.ch

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Publisher

The Federal Council
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Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html

Federal Department of Foreign Affairs
https://www.eda.admin.ch/eda/en/home.html

Federal Department of Economic Affairs, Education and Research
http://www.wbf.admin.ch

State Secretariat for Economic Affairs
http://www.seco.admin.ch