The International Monetary Fund and the World Bank Group held their annual meeting in Washington, D.C. on 18–21 April 2018. The International Monetary and Financial Committee also met on 20–21 April 2018. In their regular meeting held on 19–20 April 2018, the G20 finance ministers and central bank governors focused on ways to further improve the resilience of individual countries and the global financial system. With the global economy currently benefiting from favourable conditions, now is the time to address challenges arising in the medium term, for example the issues many regions face due to very expansionary monetary and fiscal policies, and excessive levels of private and public debt. Furthermore, the finance ministers discussed how global and multilateral cooperation could be used to counter growing distrust in governments and public institutions.
The talks also turned to the future of work in an age shaped by globalisation and digital technology, as well as addressing the future of the “Compact with Africa” initiative previously launched by the German Finance Ministry.
In addition, German Finance Minister Olaf Scholz took the opportunity to conduct several bilateral talks with counterparts from a number of countries. Mr Scholz also participated in an IMF panel discussion on “Reforming the Eurozone” with Christine Lagarde, Managing Director of the IMF. Mr Scholz also spoke at the German Marshall Fund.
The next meeting of the G20 finance ministers and central bank governors will be taking place in Buenos Aires, on 21–22 July 2018. The IMF and World Bank Group will be holding its next annual meeting in Bali, Indonesia, on 12–14 October 2018.