Washington: The capital of the United States, Washington, will once again host the Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), bringing together global leaders to seek solutions for reviving the global economy and eradicating hunger and poverty. The event runs until Saturday, the 18th of this month, coinciding with Washington, D.C., celebrating its 233rd anniversary since its founding on October 13, 1792.
According to Angola Press News Agency, Angola will be attending the event with a delegation led by the Minister of Planning, Victor Hugo Guilherme. The delegation also includes the Secretary of State for Finance and Treasury, Ottoniel dos Santos, and other officials from the Ministry of Transport, the National Bank of Angola (BNA), and AIPEX. In the previous edition of this event in October 2024, Angola secured a loan of approximately US$500 million, which was intended to finance the General State Budget for 2024 and 2025.
The Annual Meetings of the WBG and IMF
are crucial gatherings for finance ministers and central bank governors worldwide. Participants discuss global economic outlooks, economic development, and the effectiveness of international aid. The meetings, often referred to as the sessions of the Bretton Woods institutions, focus on economic development, poverty eradication, and shared prosperity.
The event also allows central bank officials, finance ministers, private sector representatives, civil society, and academics to share knowledge and experiences. Strategies for economic and development challenges are presented in seminars and press conferences. In addition to these meetings, the institutions also organize the Spring Meetings annually in April in Washington.
Angola, a member of the World Bank and IMF since 1989, has been strengthening its ties with these institutions through programs aimed at improving national account management, enhancing investment mechanisms, and promoting economic and social growth. The history of these meetings dates back
to the Bretton Woods Conference in 1944, which established both organizations to create a stable international monetary system and promote post-World War II economic development. The IMF focuses on monetary stability, while the World Bank aims at financing economic development and poverty reduction.