Finance and Economic Affairs Minister Seyyed Shamseddin Hosseini and Central Bank Governor Mahmoud Bahmani left Tehran for Washington to attend the annual meetings of the International Monetary Fund (IMF).
This year's meeting will take place in Washington D.C. October 8-10, 2010, ILNA News Agency reported.
The Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group each year bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.
The Board of Governors of the International Monetary Fund and the Boards of Governors of the World Bank Group normally meet once a year to discuss the work of their respective institutions. The Annual Meetings, which generally take place in September-October, have customarily been held in Washington for two consecutive years and in another member country in the third year.
The International Monetary Fund (IMF) is the intergovernmental organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rate and the balance of payments.
It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development through the enforcement of liberalizing economic policies on other countries as a condition for loans, restructuring or aid. It also offers highly leveraged loans, mainly to poorer countries. Its headquarters are in Washington, D.C., United States.
Members of the IMF include 186 of the UN members and Kosovo. Non-members are North Korea, Andorra, Monaco, Liechtenstein, Nauru, Cook Islands, Niue, Vatican City and the rest of the states with limited recognition.