Introduction

This is the fourth report to be made under the provisions of the Bretton Woods Agreements (Amendment) Act, 1999.  The report sets out Ireland’s involvement with the Bretton Woods Institutions during 2002.

In the last year replenishment discussions concerning the International Development Association (IDA) were completed. These discussions emphasised the necessity to prioritise policies that are most important for direct and immediate poverty reduction in the poorest countries. This is a message also emphasised by meetings at Monterrey and Johannesburg, which are touched on in this report.

Education is essential as is improved health care. Education can improve living standards and increase productivity. The other priorities include special attention being given to the funding of HIV/AIDS and other communicable disease programmes, rural development, private sector development and good governance.

Ireland has achieved much in economic and social development through investment in basic education. We encourage the Bretton Woods Institutions and their shareholders to draw from this experience to improve the lives of others. 

Charlie McCreevy TD

Minister for Finance

Click on the links for the sections below:

Introduction

A  The International Monetary Fund             

B  The World Bank Group                         

Issues in 2002

A   International Monetary Fund

1. Surveillance 

2. Crisis Prevention  

3. Crisis Resolution  

4. IMF Lending Policy: Lending and Conditionality   

5. Sovereign Debt Restructuring Mechanism      (SDRM)  

6. Recent changes in the method of SDR valuation: The SDR and    

    the Euro. 

7. PRSP/PRGF  

                        1. IDA 13 Replenishment   

2. Development Effectiveness 

3. Investing in People     

4. Sustainable Development  

5. Private Sector Development  

6. Strengthening Financial Systems  

7. Promoting the Rule of Law     

                        1. HIV/AIDS 

2. Food Crisis In Africa   

3.The HIPC Initiative  

4. Conference on Financing for Development  

5. World Summit on Sustainable Development  

6. Policy on Developing Countries Debt  

7. Crisis in Argentina        

111. Ireland’s participation in the Institutions   

   
A  Article IV Consultations with Ireland 

B  Financial Participation  
1. IMF 
2. World Bank Group 
3. GEF 
4. Ireland Aid – World Bank Trust Funds
 
C  Administrative Participation 

1. Governance  

                   2. The Irish Constituency   

                   3. Visits to Ireland from IMF and World Bank  

5. International Finance Corporation/European Bank for Reconstruction and Development Seminar   

                   6. Minister of State visits to Africa         

7. Ireland Aid and the World Bank  

                   8. Cooperation with Ireland Aid   

9. Interaction with Non Government Organisations (NGO’s)                                                     

IV  Legislation  

V   The Brazil Facility

Appendices

1. Taoiseach’s address to the World Summit on Sustainable Development in Johannesburg, 3 September 2002
2. Statement by Minister for Finance Mr. Charlie McCreevy TD Governor of the IMF and World Bank for Ireland at the joint annual discussion of the Board of Governors of the IMF and the World Bank  - 29 September 2002   
3. Key Outcomes of the World Summit on Sustainable Development                    
4. Statement by the Honourable Mr. Paul Martin, Minister for Finance and Governor of the IMF for Canada at the IMFC - 20 April 2002                        
5. Statement by the Honourable Mr. John Manley, Minster for Finance of Canada to the IMFC 28 September 2002
6. IMF Public Information Notice (PIN) No 02/83 entitled “IMF concludes 2002 Article IV Consultation with Ireland”, dated 7 August 2002             
7. Concluding Statement of the IMF Mission on the Economic Policies of the Euro-Area (in the context of the 2002 Article IV consultation discussions with the Euro-Area Countries) 12 July 2002
8. Executive Summary of Ireland’s policy on Developing Counties Debt                
9. Address by Minister for Agriculture Joe Walsh TD welcoming the delegates to Dublin for the International meeting on the role of Agriculture, Science and Technology       
10. Extract from the Bretton Woods Agreements (Amendment) Acts, 1999
11. Payments and Receipts in respect of participation in the Bretton Woods Institutions in 2002

12. Central Bank role in the BIS credit facility for Brazil                              

13. Activities of Central Bank in 2002 as agent of the Minister for Finance under the Bretton Woods Agreement Acts 1957 –1999                
14. References  
    

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