The AFA attends the Spring Meetings and meets with the US Treasury in Washington

Spring Meetings of the IMF and the World Bank. Meeting with the US Treasury

24/04/2022

The AFA, along with members of the Ministry of Finance, participates in the Spring Meetings organised by the International Monetary Fund (IMF) and the World Bank (WB) from 18 to 24 April in Washington.

The Andorran delegation met with the Deputy Managing Director of the IMF, Bo Li, as well as the Managing Director of the European Department of the IMF, Alfred Kammer and the Director of the Monetary and Capital Markets Department, Tobias Adrian.

In these meetings, the functioning of the different technical assistance programmes that Andorra received as member of the IMF has been shared since it became the member 190 of the IMF on 16 October 2020.

IMF officials congratulated the Andorran delegation on the speed of the accession process and the cooperation with the institution.

The Andorran delegation also met with Paul Hilbers and Luc Dresse, alternate Executive Directors of the IMF constituency, which includes Andorra and other states such as Croatia, Cyprus, Montenegro, the Netherlands, Belgium and Luxembourg. Among others, this meeting wanted to emphasise the importance of transferring the sensitivity and specificities of small states such as the Principality of Andorra.

Representatives of the AFA, the Government and the Andorran Embassy to the United Nations also held a working meeting with the US Department of the Treasury during which the evolution of the Andorran fiscal framework in recent years and the progress in international homologation in the field of the financial sector and fiscal transparency were highlighted. Other current international topics include the accession of Andorra to international sanctions against Russia due to the conflict in Ukraine, for which the United States representatives were particularly pleased.

During this Spring Meetings of the IMF, the Andorran delegation also held meetings with the Vice President of the Spanish Government and Minister of Economy and Digital Transformation, Nadia Calviño, the Minister of Finance of Switzerland, Ueli Maurer, the Minister of Economic Development of Montenegro, Jakov Milatović, and the Minister of Finance of Croatia, Zdravko Marić.

Finally, the Spring Meetings were also a great opportunity to hold interviews with central bank authorities such as the Governor of the Central Bank of Belgium, Guillaume Pierre Wunsch; the Governor of the Central Bank of Cyprus, Constantinos Herodotou; the Governor of the Central Bank of Montenegro, Radoje Žugić; the Governor of the National Bank of Croatia, Boris Vujčić; the Governor of the Central Bank of Israel, Amir Yar and the Deputy Governor of the Central Bank of the Netherlands, Olaf Sleijpen.