Press Information Bureau

Government of India

Ministry of Finance

15-April-2012 18:58 IST

Union Finance Minister to Leave for four Days’ Official Visit TO USA on Wednesday, 18th April 2012 to Attend Spring Meetings of World Bank and IMF; Also to Attend G-20 Finance Ministers’ and BRICS Finance Ministers’ Meetings along with Several Bilateral Meetings on the Sidelines

The Union Finance Minister Shri Pranab Mukherjee will be leaving on a four days official visit to US on Wednesday, 18th April, 2012 in order to attend the Spring Meetings of World Bank and IMF.  The Finance Minister Shri Mukherjee will also attend G-20 Finance Ministers’ and BRICS Finance Ministers’ Meeting during his aforesaid visit.  The Finance Minister will also hold bilateral meetings with his counterparts from USA, South Korea, Iran and the UK on the side lines of the World Bank and IMF Meetings.

               The Finance Minister Shri Mukherjee’s engagementss on the morning of 19th April, 2012 would start with the bilateral meeting with his US counterpart Mr. Timothy Geithner. Later in the day, Shri Mukherjee will hold bilateral meeting with the South Korean Minister for Finance and Strategy.  In the afternoon on the same day, the Finance Minister will attend BRICS Finance Ministers’ and Central Bank Governors’ (CBGs’) Meeting.  Issues relating to setting-up of Working cum Experts Group for BRICS Bank, Transfer Pricing and Tax Avoidance etc. are likely to be discussed in the said BRICS Meeting.  Thereafter, Shri Mukherjee will Chair the G-24 Finance Ministers’ Meeting as he is currently Heading the G-24 Finance Ministers’ Forum.  In the evening on the same day i.e.19th April, the Finance Minister Shri Mukherjee will speak on the issue of ‘Global Economy and Framework’ in the First Session of G-20 Finance Ministers and Central Bank Governors’ Meeting. India and Canada are currently Co-Chairing the Working Group on Global Framework.

On 20th April, 2012, the Finance Minister Shri Mukherjee will attend the Second Session of G-20 FMs’ and CBGs’ Meeting on ‘Financial Regulation and Financial Inclusion’. Thereafter, the Finance Minister would intervene and speak in the Third Session of G-20 FMs’ and CBGs’ Meeting on ‘Energy, Commodities and Other Issues including Climate Change & Disaster Risk Management’ etc. Later, the Finance Minister would participate in G-20 and IMFC Combined Session on ‘Strengthening of the IFA’. This Session is likely to be dominated by the issue of Augmenting of IMF Resources especially to tackle the European Union Crisis.   In the afternoon, Shri Mukherjee will have a Meeting with UK Secretary of State Mr Andrew Mitchell. Thereafter, the Finance Minister Shri Mukherjee will visit the Peterson Institute for International Economics on the same day. There the Finance Minister will deliver the Special Address on the subject of ‘India and the World—Short and Medium Term Prospects.’ He will also participate in the Interactive Session jointly organised by the Peterson Institute and Confederation of Indian Industry (CII) on this occasion.  In the evening, the Finance Minister Shri Pranab Mukherjee will attend the Ministerial Meeting of Financial Action Task Force (FATF) which would be chaired by the Italian Prime Minister. This would be for the First time that Ministerial level Meeting would be attended by the Indian Finance Minister after India became FATF’s 34th Member last year. Later the Finance Minister Shri Mukherjee would attend the Dinner hosted by the Indian Ambassador to US Ms Nirupama Rao  in the Honour of the visiting Finance Minister.

On 21st April,2012, the Finance Minister Shri Mukherjee would attend the IMFC Plenary Meeting. Later, Shri Mukherjee will attend Development Committee Plenary Meeting of the World Bank. In the evening, the Finance Minister Shri Mukherjee will hold bilateral Meeting with Mr Seyed Shamseddin, Minister for Economic Affairs and Finance, Republic of Iran. 

On 22nd April, 2012, in the morning before embarking for his return journey back home, the Finance Minister Shri Pranab Mukherjee will have a media interaction where he will brief the media about his four days’ US visit. Thereafter, the Finance Minister will leave for New York on his way back home. He will arrive in the national capital in the afternoon of 23rd April, 2012 after completion of his US visit.          

******

DSM

International financial cooperation driving talks on BRICS bank, transfer pricing, financial regulation and IMF resource strengthening. The four day official visit centers on multilateral and bilateral finance sector coordination: participation in World Bank and IMF Spring Meetings, G 20 and BRICS finance meetings addressing a Working cum Experts Group for a BRICS Bank, transfer pricing and tax avoidance, financial regulation and inclusion, energy and climate issues, and strengthening the international financial architecture including augmentation of IMF resources; bilateral meetings and public addresses supplement multilateral engagements.