30.05.2015

Republic of Bulgaria hosts the IMF/ World Bank Constituency Meetings. At the opening of the forum held at Sofia Hotel Balkan Minister of Finance Vladislav Goranov delivered a welcome speech.

Governor for the Republic of Bulgaria in the organizations within the World Bank Group, of which our country is a member, is the Minister of Finance and in the IMF - the BNB Governor. At the moment the interests of the group of countries within the Boards of Executive Directors of IMF and the organizations from the World Bank Group are represented by the Executive Directors Menno Snel (IMF) and Frank Heemskerk (World Bank).

In the framework of its membership in the IMF and in the organizations within the World Bank Group the Republic of Bulgaria belongs to a group of countries whose interests are represented by a joint executive director. This group includes: Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, Former Yugoslav Republic of Macedonia, Moldova, Montenegro, the Netherlands, Romania, Ukraine, Belgium and Luxembourg. According to the established practice, the countries from the group have regular meetings hosted by a constituent member, which are used as an opportunity for discussions and exchange of opinions and positions on issues of common interest. The meetings are attended by the Executive Directors for the group at IMF and WB, representatives of the management of the international institutions and delegations from the constituent members which comprise the governors and the alternate governors for the respective countries. Bulgaria hosted such meetings for the last time in 1999 and this year it is a host in compliance with the rotation principle.

On the occasion of our country being a host this year, a public discussion on the „Relevance of the Bretton-Woods Institutions in the Post-Global Crisis Period" was held at the University of National and World Economy yesterday. Participants in it were Minister of Finance Vladislav Goranov, the Rector of UNWE Statty Stattev, BNB Deputy Governor Kalin Hristov, ED IMF Menno Snel, ED World Bank Frank Heemskerk.

The discussions within the event today are focused on a number of topics: investments in the economic development of Europe; aspects of growth, income distribution and ageing; and financial sector assessment programmes in the member states.