OREANDA-NEWS. September 28, 2010. The meeting of the members of the Nordic-Baltic Monetary and Financial Committee takes places in Trakai. Representatives of the central banks and finance ministries of Denmark, Finland, Estonia, Iceland, Latvia, Lithuania, Norway, Sweden and the International Monetary Fund (IMF) participate in the meeting.

“During these meetings, the activity of eight Nordic and Baltic countries at the International Monetary Fund is coordinated. We usually meet each spring and autumn successively in the countries that belong to our constituency ahead of the global IMF fora and coordinate positions on the issues to be discussed there”, said Ms. Ramune Zabuliene, Deputy Chairman of the Board of the Bank of Lithuania and Member of the Nordic-Baltic Monetary and Financial Committee.

According to Ms. Ramune Zabuliene, the important issues to be discussed in Trakai include the ideas on the reorganisation of the IMF in the context of the global economic crisis. “Discussions are taking place on how the Fund’s management, its financial foundations and lending instruments should be enhanced, so that they better meet the needs of the IMF members. Close attention is also devoted to the strengthening of the monitoring of economic and financial policies of the countries”, noted Ms. Ramune Zabuliene.

Lithuanian has been a member of the IMF since 1992. Currently, the IMF membership comprises 186 countries. This organisation has been created to promote international cooperation in formulating monetary and exchange rate policies, strengthen economic growth, increase employment and provide temporary financial support in dealing with balance of payments problems in the countries.