In his opening speech, Mr Giau, who chaired the meeting, laid stress on the IMF’s central role in regulating policies to cope with the impact of the global economic crisis on countries. He also highlighted the WB’s efforts to reduce negative effects on the poor all over the world.

Mr Giau called on the two organisations to continue assisting member countries in the difficult times and refine mechanisms for global cooperation in order to prevent a re-occurrence of the crisis in future. He acknowledged the WB’s initiatives in establishing and developing funds and programmes to mobilise resources to support member countries in coping with the impact of the crisis through its programmes to reduce poverty, increase investment in infrastructure construction, and develop the private economic sector.

He praised the IMF’s role in implementing an economic stimulus package worth 2 percent of the global GDP, managing macro policies and repairing weaknesses in the international financial system to weather the financial storm. He stressed the importance of the IMF’s role in coordinating and assisting member countries in designing policies and solutions in the post-crisis period.

Governor Giau reviewed the achievements made by Vietnam, ASEAN and the Asia-Pacific over the past decades. He said he believed that the ASEAN community in general and Vietnam in particular are capable of overcoming the economic crisis and slowdown thanks to their efforts to strengthen cooperation within the community and between the community and its partners, including China, Japan, the Republic of Korea, India, the EU and the US.

The 2009 WB/IMF meeting attracted the participation of finance ministers and bank governors from 186 member countries, as well as leaders of economic groups, banks and financial institutions.

At last year’s annual meeting in Washington D.C, the US, the SBV Governor was elected Chairman of the IMF/WB Council of Governors.