October 6–8, 1998

International Monetary Fund
Washington, D.C.

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1998 Annual Meetings



Summary Proceedings
of the Fifty-Third Annual Meeting
of the Board of Governors
October 6–8, 1998

Contents

pointer PART 1 of 4 (86k PDF)

Introductory Note

Address by the President of the United States,
   William Clinton

Address by the President of Argentina,
   Carlos Saúl Menem

Opening Address by the Chairman of the Boards of Governors
   and Governor of the Fund and the Bank for Austria,
   Wolfgang Ruttenstorfer


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Presentation of the Fifty-Third Annual Report by the Chairman
   of the Executive Board and Managing Director
   of the International Monetary Fund, Michel Camdessus

Opening Address by the President of the World Bank Group,
   James D. Wolfensohn

Report to the Board of Governors of the International Monetary Fund
   by the Chairman of the Interim Committee of the Board of Governors
   on the International Monetary System, Carlo Azeglio Ciampi

Report to the Boards of Governors of the Fund and the Bank
   by the Chairman of the Joint Ministerial Committee of the Boards of
   Governors on the Transfer of Real Resources to Developing Countries
   (Development Committee), Tarrin Nimmanahaeminda

Statements by the Governors for
   Armenia—Armen R. Darbinian
   
Australia—Rod Kemp
   
Austria—Wolfgang Ruttenstorfer*
   Bangladesh—Shah A.M.S. Kibria
   
Barbados—Owen S. Arthur*
   Belgium—Jean-Jacques Viseur
   
Bosnia and Herzegovina—Mirsad Kurtovic
   
Bosnia and Herzegovina—Novak Kondic
   
Cambodia—Keat Chhon
   
Cambodia—Chea Chan To
   
Canada—James Peterson
   
China—Dai Xianglong
   
Croatia—Borislav Skegro
   
Cyprus—Christodoulos Christodoulou
   
Estonia—Mart Opmann*
   
Ethiopia—Sufian Ahmed*
   
Fiji—James Ah Koy
   
Finland—Matti Vanhala*
   France—Jean-Claude Trichet
   
Georgia—Vladimer Papava
   
Germany—Hans Tietmeyer
   Greece—Yannos Papantoniou
   
Iceland—Halldór Ásgrímsson*
   India—Yashwant Sinha
   
Indonesia—Bambang Subianto
   
Iran, Islamic Republic of—Hossein Namazi
   
Iraq—Hikmat M. Ibraheem Al-Azzawi
   
Ireland—Charlie McCreevy
   
Israel—Jacob A. Frenkel
   
Italy—Carlo Azeglio Ciampi
   
Japan—Kiichi Miyazawa
   
Korea—Kyu Sung Lee
   
Lao People’s Democratic Republic—
      Cheuang Sombounkhanh
   
Libyan Arab Jamahiriya—
      Mohamed A. Bait Elmal


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   Malaysia—Dato Mustapa Mohamed
   
Malta—John Dalli
   
Marshall Islands—Tony Debrum
   Mongolia—Bat-Erdene Batbayar
   
Morocco—Fathallah Oualalou*
   Myanmar—U Khin Maung Thein
   
Nepal—Ram Sharan Mahat
   
Netherlands—Gerrit Zalm
   
New Zealand—W.F. Birch
   
Pakistan—Hafiz A. Pasha
   
Papua New Guinea—Iairo Lasaro
   
Paraguay—Heinz Gerhard Doll
   
Philippines—Edgardo B. Espiritu
   
Poland—Leszek Balcerowicz
   
Portugal—Antonio de Sousa Franco
   
Russian Federation—Mikhail Mikhailovich Zadornov
   
Solomon Islands—Bartholomew Aba’au Ulufa’alu*
   
Spain—Rodrigo De Rato Figaredo
   
Sri Lanka—G.L. Peiris
   
Switzerland—Kaspar Villiger
   
Thailand—Tarrin Nimmanahaeminda
   
Tonga—Kinikinilau Tutoatasi Fakafanua
   
Turkey—Gunes Taner
   
Turkmenistan—Yolly A. Gurbanmuradov
   
Ukraine—Valeriy Pavlovych Pustovoitenko
   
United Kingdom—Gordon Brown
   
Uzbekistan—Bakhtiar Sultanovich Khamidov
   
Vietnam—Nguyen Tan Dung


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Concluding Remarks
Statements by
   The Governor of the Bank for Nepal, Ram Sharan Mahat
   
The Chairman of the Executive Board and Managing
      Director of the International Monetary Fund,
      Michel Camdessus
   
The President of the World Bank Group,James D. Wolfensohn
   
The Chairman of the Boards of Governors and Governor of the
      Fund and the Bank for Austria, Wolfgang Ruttenstorfer

Documents and Resolutions of the Board of Governors

Schedule of Meetings
Provisions Relating to the Conduct of the Meetings
Agenda
Reports of the Joint Procedures Committee
   Report I
      Statement of Results of Election, October 7, 1998
   Annex I to Report I. Regulations for the Conduct of the 1998
      Regular Election of Executive Directors
   Annex II to Report I
      Attachment I. Rules and Regulations Amended Since
         the 1997 Annual Meeting
   Report III

Resolutions
   53-1 Membership for the Republic of Palau
   53-2 Increase in Quotas of Fund Members—Eleventh
         General Review
      Annex to Resolution 53-2
   53-3 Direct Remuneration of Executive Directors and
         Their Alternates
   53-4 1998 Regular Election of Executive Directors
   53-5 Financial Statements, Report on Audit, and
         Administrative and Capital Budgets
   53-6 Amendments of the Rules and Regulations

Interim Committee of the Board of Governors on the
      International Monetary System
   Press Communiqué (October 4, 1998)
   Interim Committee Composition (as of October 4, 1998)

Joint Ministerial Committee of the Boards of Governors of the
      Bank and the Fund on the Transfer of Real Resources to
      Developing Countries (Development Committee)
Press Communiqué (October 5, 1998)
Development Committee Composition
         (as of October 5, 1998)

Attendance
   Members of Fund Delegations
   Observers, Representatives of International Organizations,
         and Special Invitees
Executive Directors, Alternates, and Advisors
List of Abbreviations


*Speaking on behalf of a group of countries.