IMF and World Bank spurn Egypt for Japan
Ahram Online, Tuesday 7 Jun 2011
Tokyo replaces Cairo as the venue for the financial bodies' 2012 annual meetings

The International Monetary Fund and the World Bank have decided to replace Egypt as venue for their 2012 annual meetings.

The two institutions will hold their October 2012 conferences in Japan, Tokyo, rather than in Cairo as originally planned, they announced today.

According to a statement from the IMF, Egyptian authorities have requested their country host the next annual meetings held abroad. This proposal will be discussed by IMF and World Bank executive boards in the near future, says the release.

The IMF says annual meetings serve to discuss international economic and financial developments, and policies to strengthen inclusive economic growth and help countries overcome poverty.