“The multilateral institutions need and welcome outside advice and guidance and they count on the Committee's International Council for help.”
– Paul Wolfowitz, President, World Bank, 2005 International Council luncheon
The Bretton Woods Committee’s International Council Meetings bring together top financial sector and government leaders at the time of the Fall World Bank / International Monetary Fund Meetings to provide advice, support, and constructive criticism to the management of the international financial institutions (IFIs). The meetings alternate between Washington, DC and the host country for the Bank / Fund meetings.
The Council was created in 2000 on the premise that development, international financial stability, and trade liberalization are all enhanced by a close working partnership between the private sector and the IFIs.
The International Council seeks to:
- Promote members’ shared belief that international economic cooperation is essential and best served through strong and effective international financial institutions,
- Provide advice, support, and constructive criticism to the management of the IFIs,
- Enhance a close working partnership between the private sector and the international financial institutions, and
- Convey ideas and concerns on the future direction of the IFIs to their leadership and host governments.