Phillips departs for high-level talks in US

Published: Sunday | October 6, 2013 Comments 0
Finance and Planning Minister Dr Peter Phillips
Finance and Planning Minister Dr Peter Phillips

Finance and Planning Minister Dr Peter Phillips left the island last Friday for Washington, DC, to participate in a series of high-level meetings with his counterparts at the 2013 Commonwealth Finance Ministers' Meeting.

Phillips has also been invited to join an advocacy grouping of delegates from small states to make representation to the executive directors of the International Monetary Fund (IMF), the Inter-American Development Bank (IADB) and the World Bank on behalf of Commonwealth small states.

The high-level advocacy mission is being constituted to engage in political dialogue with heads of key international development and financial institutions and representatives of key Common-wealth countries and other G20 governments on the financing and debt issues facing small states.

The objective is to raise the awareness of financing and debt challenges facing small states and draw attention to options for addressing these challenges.

OTHER ENGAGEMENTS

Phillips will also attend the 2013 Annual Meeting of the Board of Governors of the IMF and World Bank. This is a forum for discussion among member institutions on current international monetary issues.

The finance minister is also scheduled to have a series of bi-lateral meetings with Christine Lagarde, managing director of the IMF; Alberto Moreno, president of the IADB; and Sri Mulyani Indrawata, managing director of the World Bank.

One of the highlights of the mission will be Phillips' participation as discussant in a World Bank-sponsored seminar, 'Fiscal Sustainability and Fiscal Rules in Small States - Building Resilience and Addressing Vulnerability'.

Phillips and the Jamaican delegation are also expected to meet with senior officials in the US Department of State and the US Treasury Department.

The delegation will meet with representatives from other multilateral institutions and will participate in the G30 International Banking Seminar sponsored by the IADB, and will include representatives from Germany, Japan, the European Central Bank, and the US.

Phillips is accompanied by the Bank of Jamaica Governor Brian Wynter; Colin Bullock, director general of the Planning Institute of Jamaica; Financial Secretary Devon Rowe; and Helen McIntosh, technical adviser to the minister.

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