Issued by: Ministry of Finance
Every three years, there is an opportunity for a country other than the United States to host the annual meetings of the International Monetary Fund and World Bank Group. South Africa tendered its bid to host the event in 2000 at meetings of the IMF and World Bank Boards in Washington this week. Bids were also tendered by the Czech Republic, the Netherlands and the United Arab Emirates. At a meeting of the Board of Directors of the World Bank yesterday (16 July), Executive Directors chose to follow the recommendation of the Board of Directors of the IMF, who had met the previous day, deciding to award the Joint Annual Meetings of the World Bank and of the IMF in the year 2000 to the city of Prague, Czech Republic.
Broad support was recorded for South Africa's bid, with the Francophone Africa Constituency, the US and several other countries indicating their support for South Africa's bid. President of the World Bank, Mr James Wolfensohn indicated that although the current Board could not bind its successors, the minutes would indicate that there was strong sentiments expressed in favour of South Africa's candidacy for the 2003 meetings.
Contact: Jennifer Wilson 012 323 8911 17 July 1996