The Governor of the Central Bank of Cyprus, Panicos Demetriades, is in Washington D.C., participating in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank.
During today’s meetings, Mr Demetriades met the US Under Secretary of the Treasury for International Affairs, Ms Lael Brainard, the Director of the European Department of the IMF, Mr Reza Moghadam together with Ms Delia Velculescu and the IMF Executive Director who represents Cyprus on the IMF Board, Mr Menno Snel.
Moreover, on the sidelines of these meetings, Mr Demetriades discussed potential investments in the financial sector of Cyprus with representatives of the International Financial Cooperation (IFC), which is part of the World Bank Group, and attended constituency meetings of the IMF chaired by the Netherlands, the country which represents Cyprus in this group. Following the 2010 IMF Reform Agreement, Belgium, the Netherlands and Luxembourg proposed forming a new constituency group with emerging economies, in which Cyprus is a member, aiming at increasing their voting shares.