Thursday, 5 March 2020
Department of Finance
95. To ask the Minister for Finance his plans to have a bilateral meeting with the managing director of the IMF, Ms Kristalina Georgieva; the issues that are likely to be on the agenda; and if he will make a statement on the matter. [3498/20]
As the Deputy may be aware I met with Ms Georgieva during my visit to Washington, D.C. last October to attend the Annual Meetings of the IMF-World Bank. During our short meeting, I invited the new Managing Director to visit Ireland and subsequently confirmed the invitation in writing on my return to Dublin. Ms Georgieva’s response is awaited and while no formal agenda has yet been agreed, I expect that Ireland’s economic outlook and EU and international economic and financial developments would inevitably be discussed. I would also be keen to discuss Ireland’s forthcoming 2020 Article IV consultation and the Financial Sector Assessment Program (FSAP), the Fund’s comprehensive and in-depth analysis of a country’s financial sector, which is due to commence later this year. I would also expect that the progress that has been made on the recently agreed package on IMF resources and governance reform would be a subject for discussion.
I believe that the IMF is a cornerstone of multilateralism, which has contributed to global economic and social progress. As a small and open economy, Ireland has a deep understanding and appreciation of the importance of international cooperation and trade fostered and underpinned by a well-functioning multilateral international economic system. In today’s environment of resurgent protectionism, I would therefore take the opportunity afforded in meeting Ms Georgieva to reiterate Ireland’s ongoing commitment to multilateralism and our continued support for the important work of multilateral institutions like the IMF.