OREANDA-NEWS. On June 3-5, Ukraine will be hosting a meeting of the member states of the IMF and the World Bank. The meeting will be chaired by the Netherlands. The Government of Ukraine has ordered to begin preparations for the meeting. This event will take place in Ukraine for the first time and is aimed to improve coordination between the member states of the two international financial organizations, particularly in the key policy issues of the IMF and the World Bank. The National Bank of Ukraine and the Ministry of Finance are responsible for the organization of the event.

Key facts on the meeting of the member states group of the IMF and the World Bank:

• The IMF counts 188 member states which are divided into groups with 15 groups in each one to facilitate coordination. The respective group is led by a country with the highest quote in the group.

• Ukraine belongs to the group consisting of the Netherlands, Belgium, Luxembourg, Bulgaria, Israel, Romania, Croatia, Georgia, Cyprus, Moldova, Armenia, Bosnia and Herzegovina, Macedonia and Montenegro. The group is chaired by the Netherlands.

• The group’s meeting is held annually in a rotating mode.

• The meeting in Ukraine will be attended by the representatives of the above group as well as by the management of the IMF and the World Bank.

• The event in Ukraine was agreed during the annual meeting of the IMF and the World Bank in Lima (Peru) in October 2015.

• The meeting in Ukraine was due to take place in 2014, but it was postponed till 2016 due to the conflict in Eastern Ukraine.