De Rato concludes multi-country visit
| Pages | 317-319 |
Page 317
The IMF's Managing Director traveled to China for a Group of 20 meeting, and to Pakistan, Saudi Arabia, and Belgium for discussions with senior country and regional officials. In China, de Rato reiterated support for the change in the country's exchange rate arrangement. In Saudi Arabia for a GCC meeting, he lauded progress in regional integration. In Pakistan, he discussed the human and economic costs of the recent devastating earthquake.
Page 319
During a recent visit to Pakistan, only days after a devastating earthquake killed at least 54,000 people in the north of the country and neighboring India, IMF Managing Director Rodrigo de Rato assured President Pervez Musharraf and Prime Minister Shaukat Aziz that "the IMF stands ready to support Pakistan at this difficult time." De Rato's visit to Pakistan on October 17 was part of a fourcountry trip, which also included stops in China, Saudi Arabia, and Belgium.
China. In Xianghe on October 15, de Rato attended the Group of 20 meeting, assuring participants that all IMF members should enjoy fair representation in the institution. He later told the press that "we will work to give a greater voice in the IMF's governing councils to those regions and countries that have emerged as important forces in the global economy, especially Asia."Describing China's economic success as "central to the overall strength of the global economy," he urged the Chinese authorities to continue implementing prudent economic policies and structural reforms- especially in the financial sector, public finance, and labor markets-to help raise living standards, enhance income distribution, and improve China's further integration in the global economy. During a meeting with Chinese Premier Wen Jiabao the previous day, he reaffirmed the IMF's strong support for China's reform of its exchange rate arrangement this past July.
Pakistan. In Islamabad, de Rato met with government leaders and key ministers, offering condolences on behalf of the IMF to the Pakistani people. The visit, which had been long-planned, allowed de Rato to discuss the human and economic costs of the previous weekend's devastating earthquake and how the IMF could assist under its natural disaster facility, which provides emergency financing. He also visited the children's wing of the Pakistan Institute of Medical Sciences and met...
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