World Bank annual meeting 2007 and country participation in a large number made this a grand success. The World Bank Group and the boards of Governors of IMF (International Monetary Fund) generally meet once a year to exchange views on some common relevant issues. In accordance with the convention, the Annual Meetings generally take place in the month of September-October in Washington for two successive years. In the third year, another member country will host the meeting.
The 2007 (October 20-22 ) annual meeting was held in Washington, D.C.
Board
In the annual meeting, The Governor of the Bank and the Fund preside the chair. Each year the chairmanship rotates among the member countries. The Executive Directors are elected in every two years. Each year, the Bank and the Fund bids welcome to any new member.
Issues and agenda
Normally current monetary issues are discussed, consulted and approved in the annual meeting. The major issues that were discussed in the 2007 annual meeting were principally based on the prospect and risks of global economy and financial markets. Issues on development of a new income model, quota and voice reform were also within the provisional agenda.
Major key issues discussed
In case of economically backward countries: Suggestions were given to contribute for low income countries through regional projects by IDA(International Development Association ).
It was suggested that the World Bank need to steer oversight operations that involve donors, government and civil society.
In case of middle income countries, the probable risks and benefits will be considered.
Suggestion to develop for a global partnership strategy was also taken into consideration.