Egyptian Minister of Finance Yousef Boutros-Ghali, who is also head of the International Monetary Fund (IMF)'s International Monetary and Financial Committee, said the decision to hold the annual IMF and World Bank (WB) meetings in October 2012 in Egypt was a sign that the country’s economy was "improving."

In a statement issued by the Finance Ministry on Monday, Boutros-Ghali said that the annual IMF and WB meetings brought together the world's most prominent economists, including finance ministers, central bank governors, academics, NGO representatives and media personnel.

The minister added that the WB and IMF councils of governors would also meet to discuss pressing international issues of concern.

Mohamed Shabaan, adviser to the Finance Minister, noted that annual meetings had been held at IMF and WB headquarters in Washington DC for two consecutive years, while every third year they are hosted by another member country. The last three annual meetings to be convened abroad were held in Istanbul, Turkey.

(Source: Al-Masry Al-Youm, 16/11/2010)