Statement by the Press Secretary on International Monetary Fund (IMF) and World Bank Spring Meetings

April 22-23, 2006

The Spring Meetings of the International Monetary Fund and World Bank come at an important time for both institutions as they strive to carry-out their responsibilities to foster robust, sustainable global economic growth. The IMF is an important institution and its member states need to commit to prepare the institution and their own economies to address the challenges of the modern global economy by strengthening market institutions and market discipline over financial decisions to promote a stable and prosperous global financial system. At the World Bank they must build on the successful completion of the G8 debt cancellation initiative by implementing President Wolfowitz's vision to foster good governance and combat corruption. It is important for both institutions to set priorities so that each institution's unique mission receives the focus it deserves.