Changing names but not spots

15 September 1999

The Interim Committee is likely to change its name to the “International Monetary and Finance Committee”. No additional powers or responsibilities will be assigned to it, although the G7 have recommended that:

  • deputy-Governor level meetings should be held prior to the main Committee meetings which Governors attend;
  • the World Bank president should have a role in the Committee;
  • in special cases there should be joint Interim and Development Committee meetings.

It is hoped that agreement on these changes will be reached at the Annual meeting.

It is also likely that UK Chancellor Gordon Brown will become the new chair of the Interim Committee.