Swiss prepare for key financial meetings

Finance Minister Hans-Rudolf Merz will lead the Swiss delegation attending this week's spring meetings of the International Monetary Fund and World Bank Group.

This content was published on April 22, 2009 - 12:18

Economics Minister Doris Leuthard and the president of the Swiss National Bank, Jean-Pierre Roth, will also travel to Washington for the talks, which will focus on the response to the financial crisis and the global downturn.

In meetings of the International Monetary and Financial Committee, finance ministers and central bank heads are due to examine the global economic outlook.

The IMF anticipates a shrinkage of global economic activity this year in and only a slight recovery in 2010 in what is the most severe downturn since the 1930s.

The Development Committee is set to discuss the impact of the crisis on poor countries and the role of international financial institutions in mitigating the effects of the downturn.

Switzerland will tell the IMF it will provide a short-term credit line of up to $10 billion (SFr11.7 billion), subject to parliamentary approval.

A Swiss finance ministry statement on Wednesday said Switzerland broadly supported the "significant and targeted commitment" of the World Bank in combating the crisis and the more flexible use of resources.

But it emphasised that increased resources and rapid action should not be to the detriment of quality.


In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at

Sort by

Change your password

Do you really want to delete your profile?

Your subscription could not be saved. Please try again.
Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.

Discover our weekly must-reads for free!

Sign up to get our top stories straight into your mailbox.

The SBC Privacy Policy provides additional information on how your data is processed.