Katayama Named Next Chair of World Bank-IMF Development Committee
Overview
Finance Minister Katayama has been nominated as the next chair of the World Bank-IMF Development Committee and is scheduled to be formally elected at the committee meeting in Bangkok on October 15. The two-year term will run from the end of the meeting through October 2028. This will be the first time a chair has been selected from Japan since the committee was established in 1974. Japan says it will contribute more actively to the committee’s work under its new chair and continue supporting the World Bank and IMF’s efforts on development issues.
Key points
- Finance Minister Katayama has been nominated as the next chair and is scheduled to be formally elected at the committee meeting on October 15.
- The two-year term will run from the end of the committee meeting through October 2028.
- This will be the first time a chair has been selected from Japan since the committee was established in 1974.
- The committee makes recommendations and reports to the World Bank and IMF on development issues.
Overview
The World Bank-IMF Development Committee was established in 1974 to make recommendations and reports to the World Bank and IMF on development issues.
Finance Minister Katayama has been nominated as the next chair. She is scheduled to be formally elected at the committee meeting in Bangkok, Thailand, on October 15.
Impact
Japan says it will contribute more actively to the committee’s work under its new chair, Finance Minister Katayama, and continue supporting the World Bank and IMF’s efforts on development issues.
Details
As a rule, the committee consists of 25 minister-level members from countries that elect directors of the World Bank or IMF. It usually meets twice a year, in spring and autumn.
The chair’s two-year term will run from the end of the committee meeting in Bangkok through October 2028. This will be the first time a chair has been selected from Japan since the committee was established in 1974.