4 October 2016
Media Release - #2016108, 2016

International Monetary Fund and World Bank Annual Meetings – Washington D.C.


Today I leave for the United States to attend the International Monetary Fund (IMF) and World Bank Annual Meetings in Washington D.C. on 7-8 October 2016.

The IMF and World Bank Annual Meetings provide an opportunity to meet with my colleagues from around the world to discuss major challenges facing the global economy.

I will also attend a working dinner with G20 Finance Ministers and Central Bank Governors on 6 October.

The global economy continues to face significant downside risks. A strong and adequately resourced IMF remains important to supporting the global economy in the face of these risks.

At the IMF meetings, I will emphasise the critical role that structural reform plays in driving long term growth and the importance of remaining open to trade.

My meetings in Washington will provide an opportunity to contribute directly to the policy direction and work of the IMF and the World Bank and to discuss their recent reforms and initiatives.

When I meet with my G20 counterparts, we will consider ways to improve the current state of the global economy, along with efforts to improve standards of international tax transparency, including beneficial ownership. We will also confer on priorities ahead of Germany’s 2017 G20 Presidency.

While in the US, I will take the opportunity to hold a number of bilateral meetings with Finance Ministers and Central Bank Governors, from countries and regions of economic significance to Australia – including the United States, Europe and China.

I will also meet with the head of S&P sovereign ratings in New York, as well as financial sector representatives to discuss important opportunities in FinTech, as I have also done in Shanghai and Hong Kong.

I look forward to showcasing Australia’s continuing strong economic performance, particularly as our economy transitions to new sources of growth.