Economy, Business And Markets

Seif Attending IMF Session in Peru

Seif Attending IMF Session in Peru
Seif Attending IMF Session in Peru

Head of the Central Bank of Iran left Tehran for the Peruvian capital Lima to attend the annual meetings of the World Bank Group and the International Monetary Fund, the CBI reported late Wednesday.

Valiollah Seif is scheduled to meet with Christine Lagarde, the managing director of the International Monetary Fund (IMF) as well as economic and financial officials from several countries. Seif is joined in the trip by Economy Minister Ali Tayyebnia.

The inaugural ceremony of the annual meetings of the World Bank and IMF will take place on Oct. 9-11. The main topics for discussion include the campaign against illicit financial flows, private investment in renewable energy, structural reforms and managing the volatility in commodity markets.

Central bankers, finance ministers and private sector executives from across continents are expected to also address the refugee crisis in Europe, as well as the crisis in the Ukraine and Greece.

“At the annual meetings, the boards of governors make decisions on how current international monetary issues should be addressed and approve corresponding resolutions,” the IMF said on its website.

Seif will participate in the meetings of the Group 24 countries of the IMF. The group, which is officially called the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development, is not an organ of the IMF, but it provides secretariat services to the group.

Its meetings usually take place twice a year, prior to the International Monetary and Financial Committee and Development Committee meetings, to enable developing country members to discuss agenda items beforehand.

Algeria, Côte d’Ivoire, Egypt, Ethiopia, Gabon, Ghana, Nigeria, South Africa, the Democratic Republic of Congo, Argentina, Brazil, Colombia, Guatemala, Mexico, Peru, Trinidad and Tobago, Venezuela, India, Iran, Lebanon, Pakistan, Philippines, Sri Lanka and Syria are the group members.