Will the IMF and World Bank let us in?
Finance Minister Brown’s discussions in Japan centre on joining IMF and World Bank

The Minister for Finance and the Financial Secretary met with Chris Legge the Executive Director representing Asia and the Pacific islands at the International Monetary Fund regarding various issues.
The Minister progressed ongoing discussions of the Cook Islands joining the IMF and the World Bank stressing the importance of joining the IMF and the manner by which it would assist in strengthening the economic and financial credibility of the Cook Islands as an independent financial jurisdiction. Membership would greatly assist the Cook Islands realise its ambition to grow its financial services industry, as well as including the country to another level of regular international scrutiny of the Cook Islands economy through the IMF international country assessments.
The Cook Islands delegation also joined the Commonwealth Finance Ministers meeting, the Commonwealth includes 32 small states, 15 least developed countries, 25 small island states, and many of the most poor, most vulnerable economies in the world.
The meeting was chaired by Right Honourable Denzil Douglas, Prime Minister and Minister of Finance of St. Kitts and Nevis, a country with a very similar profile to the Cook Islands who also face similar issues to the Cook Islands particularly in relation to its improved relative economic grading with international organisations and its vulnerability of being a small island state facing ongoing natural disasters risks. The discussion focussed on issues facing smaller more vulnerable states.
The discussion between Ministers and representatives of the World Bank and the IMF included securing growth with jobs and reducing inequality, this discussion focussed on the way countries could continue to implementing policies which would improve economic growth whilst ensuring safety nets remain for the most vulnerable in society.
The Minister and Financial Secretary will be meeting with other Pacific and Carribean small State Ministers on Thursday and also join the IMF constituency meeting later that day. The Minister will also meet with the Honourable Bill English, the New Zealand Finance Minister to discuss various issues.

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