IMF Welcomes New World Bank Chief, Says Both Have A Special Responsibility To Work Together

KUALA LUMPUR, July 3 (Bernama) -- The International Monetary Fund (IMF) has congratulated World Bank Group President Jim Yong Kim on his appointment, saying that both organisations have a special responsibility to work together. "Given our membership and global mandates, the Fund and the Bank have a special responsibility to work together, and Jim and I have already agreed that we will be collaborating closely," IMF managing director Christine Lagarde was quoted as saying in an IMF statement. Extending a warm welcome to Jim on his first day of work as President on Monday, Legarde also said she looked forward to working with him. Jim, a physician and an anthropologist, became World Bank's 12th President starting July 1, succeeding Robert Bruce Zoellick, who held the post from July 1, 2007 to June 30, 2012. The World Bank is a vital source of financial and technical assistance to the developing countries across the world. Headquartered in Washington, the World Bank is not a bank in the ordinary sense but a unique partnership aimed to reduce poverty and support development. The IMF is an organisation of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment, sustainable economic growth, and reduce poverty around the world. -- BERNAMA