Minister for Finance in Bali for IMF/WBG meetings

The Minister for Finance Edward Scicluna attended the 2018 International Monetary Fund and the World Bank Group annual meetings in Bali, Indonesia, which were held between 11 and 14 October.

These annual meetings serve as a platform for finance and development ministers, central bank governors, private sector executives and academics to discuss issues of global concern including the world economic outlook, external environment and development challenges.

Minister Scicluna held talks with senior officials of leading international financial institutions on the fringes of the IMF autumn meeting regarding Malta’s economic, fiscal and financial outlook as well as its challenges for the coming years.

Minister Scicluna met with the rating agencies including Moody’s and Standard and Poor’s, and had high-level meetings with the World Bank executive director, Patrizio Pagano; the IMF executive director Alessandro Leipold and World Bank representative for the Maghreb, Francoise Marie Nelly.

Meetings were also held with the IMF’s Article IV Mission, Nir Klein and Jean-Marc Natal, and Mahmood Pradhan, director at the IMF’s European Department. The delegation also held meetings with a number of bank officials including a delegation from the Industrial and Commercial Bank of China led by chairperson Gao Ming.

Minister Scicluna attended the Commonwealth Finance Ministers meeting on the eve of the IMF meetings. He exchanged views with the Commonwealth secretary general, Baroness Patricia Scotland.

Minister Scicluna was accompa- nied by Central Bank of Malta deputy governor Alexander Demarco.