CONTENTS Page Speakers by Session introductory Note Address by the President of the United States, William J. Clinton.............. Opening Address by the Chairman of the Boards of Governors and Governor of the Bank and the Fund for Nepal, Mahesh Acharya... tin Opening Address by the President of the World Bank Group, James D. Wolfensohn ne 13 Presentation of the Fifty-Fourth Annual Report by the Chairman of the Executive Board and Managing Director of the International Monetary Fund, Michel Camdessus . Report to the Board of Governors of the International Monetary Fund by the Chairman of the Interim Committee of the Board of Governors on the International Monetary System, Gordon Brown Report to the Boards of Governors of the Bank and the Fund by the Chairman of the Joint Ministerial Committee of the Boards of Governors on the Transfer of Real Resources to Developing Countries (Development Committee), Zarrin Nimmanahaeminda....... Statements by the Governors for Armenia—Levon V. Barkhoudarian ... Australia—Peter Costello Austria—Wolfgang Ruttenstorfer . Bangladesh—Shah A.M.S. Kibria Belarus—Gennady V. Novitsky Belgium—Didier Reynders .... Belize—Ralph Fonseca* . a Bosnia and Herzegovina—Mirsad Kurtovic .. Cambodia—Keat Chhon and Chea Chan To Canada—.J/ames Peterson... China—Xiang Huaicheng............ Croatia—Marko Skreb Cyprus—Takis Klerides *Speaking on behalfo f a group of countries SUMMARY PROCEEDINGS, 1999 Fiji—Jone Yavala Kubuabola France—Jean-Claude Trichet................ Germany—Ernst Welteke Greece—Yannos Papantoniou Ee LETeT TO T, ee Indonesia—Boediono REE Ve ETC Iran, Islamic Republic of—Hossein NamaZi................0000ccc0000000 Iraq—/ssam Rashid Hwaish....................0000++- isacadtiaaeiit Ireland—Charlie McC reevey ............00::.sssecccscsscssssssevevesersencseeee Israel—A vraham B. Shochat .............2.ccccccccccceeseesseeeeeeseeceeeees Italy—Giuliano Amato jai EER ee Se A eR TEN ‘ Korea—Bong-Kyun Kang Lao People’s Democratic Republic—Boungnang Vorachith .... Latvia—Roberts Zile* LGR —- GOOF RES COPWN 55. ociccsicncicsidcsccscnccsstecsdicestecsececsss sess Libyan Arab Jamahiriya—Mohamed A. Bait Elma ........... , Madagascar—7Tantely R.G. Andrianarivo* siisiceinsiai Malaysia—'D Mausttoap a Mohamed ...............20c0ccc000000000000e- Malta—John Dali .. Mauritania—Mahfoudh Ould Mohamed Ali* Mongolia—Yansanjav Ochirsukh |...........00ccccccccccececcceeeeveeseees Myanmar—U Khin Maung Thein Nepai—Ram Binod Bhattarai Netherlands—Gerrit Zalm ............... New Zealand—Sir William F. Birch Norway—Svein Ingvar Gjedrem® ............cccccccccccesesseceeeeeeevees naacihbeateit Norway—Hilde Frafjord Johnson® .............cccccccccccccsesescceessseceesecceeeessees Pakistan—M. Ishaq Dar. eee ote ae Papua New Guinea—Johnn R. Kaputin .............ccccccccccceeeccscececeesssseceeeeees ' Paraguay—Federico Antonio Zayas Chirife Peru—Victor Joy Way Poland—Hanna Gronkiewicz-Waltz Portugal—Antonio de Sousa Franco Russian Federation Sri Lanka—G.L. Peiris Switzerland—Kaspar Villiger L Thailand—Chatu Mongol Somakull .00........0..cccccccccscsscceseccccesssccecesceceeeeeeees 216 Turkey—Selcuk Demiralp Turkmenistan—Khudaiberdy Orazov United Arab Emirates—Mohammed Khalfan bin Khirbash *Speaking on behalf of a group of countries CONTENTS United Kingdom—Gordon Brown Vaiuatu-Sela Molisa* Vietnam—Le Duc Thuy Concluding Remarks Statements by The Governor of the Bank for South Africa. Trevor Andrew Manuel..... The Chairman of the Boards of Governors and the Governor of the Bank and the Fund for Nepal, Mahesh Acharya .......... The President of the World Bank Group, James D. Wolfensohn The Chairman of the Executive Board and Managing Director of the International Monetary Fund, Michel Camdessus ........ DOCUMENTS AND RESOLUTIONS OF THE BOARD OF GOVERNORS Schedule of Meetings .. abs Provisions Relating to the C neue of the iain. Agenda esas Reports of the Joint Deambiee’ Committee Report II Report IIT.. Resolutions 54-1 Amendment of Section 14(f) of the By-Laws........... 54-2 Salary of the Managing Director 3 Direct Remuneration of Executive Directors and their Alternates Maternity Leave for Executive Directors and their Alternates .. Financial Statements, Report on Audit, and Administrative and Capital Budgets Amendment of Section 20(b), (c), (d), (e), and (f) of the | TERETE AS ON aT ME I eI emer ce 25 Amendments of the Rules and Regulations ........................6 2 Forthcoming Annual Meetings ........................ssscccssessserssessesees 2 International Monetary and Financial Committee oft he Board of Governors 54-10 Off-Market Transactions in Gold by the Fund......................... 2 *Speaking on behalfo f a group of countries SUMMARY PROCEEDINGS, 1999 Joint Meeting of the Interim and Development Committees, Jomt Statement by Co-Cinairimen...................ccscccsssossssccssseseccossssscasovees Interim Committee of the Board of Governors on the International Monetary System Press Communiqué (September 26, 1999) Interim Committee Composition (as of September 26, 1999) Joint Ministerial Committee of the Boards of Governors oft he Bank and the Fund on the Transfer of Real Resources to Developing Countries (Development Committee) Press Communiqué (September 27, 1999) 289 Development Committee Composition (as of September 27, 1999) ...294 Attendance Members of Fund Delegations 295 Observers, Representatives of International Organizations, and Special Invitees Executive Directors, Alternates, and Advisors List of Abbreviations