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World: IMF, World Bank Meetings Close On Positive Note

Washington, 3 October 1996 (RFE/RL) -- The 51st annual meetings of the International Monetary Fund (IMF) and the World Bank formally closed today in Washington.

IMF Managing Director Michel Camdessus said the meetings had developed a concensus on strategies for securing a strong global economy.

He said there was generally a "cautious optimism" in most member countries about their future in the global economy He added that the world's relatively favorable economic situation was the product of hard work and sacrifice over many years and that vigilance cannot be eased.

World Bank President James Wolfensohn praised the agreement reached during the meeetings to provide debt relief to about 35 of the poorest nations which have no prospect of getting out from under their obligations.

Nearly 4,000 finance ministry and central bank officials from the bank and fund's 180 member nations attended the meetings, along with an estimated 10,000 commercial bankers and investment brokers who join in a broad series of gatherings around the official meetings.