Finance ministers and central bank governors from about 185 member countries of the IMF have gathered in Washington as the 2011 IMF spring meetings fully get underway.
Key on the agenda is how to respond collectively to the opportunities and challenges that befall the world economy this year and beyond.
Already the fund has published the World Economic Outlook report, which in one breadth assures the international community that the world is gradually recovering from the 2008 crises, but in another breadth encourages developing economies to focus first on getting the fundamentals of stability right before succumbing to the challenge of chasing ambitious growth targets.
Many European and African countries will be anxious to get the fund’s seal of approval that their programmes currently running are on track while others will be hoping for increased support from the fund.
Ghana is represented by finance minister Dr. Kwabena Duffour and his deputy Fiifi Kwettey. Government sources expect to have fruitful assessments of the current IMF policy programmes being run by the Ghana government, and also to discuss the possibility of further financial assistance with some of the other bilateral partners here.
The various delegations will also be getting Policy advice from the IMF board on key macro economic strategies to employ as the world recovers from its recent crises.
Key on the agenda will be issues of economic security, impact of crude oil prices on vulnerable developing economies like Ghana, inflation and how individual countries should manage their own growth so as not to distort the global recovery and growth trends.