World Bank, IMF annual meeting begins in Dubai

The eight-day long annual meetings of the World Bank and International Monetary Fund, which began in Dubai on Wednesday, would intensively discuss employment creation, private sector development and financial sector reforms.

According to officials, the various seminars and meetings during the period would provide a forum for policy makers, private sector leaders and representatives from non-governmental organisations to interact with World Bank and IMF representatives for accelerating economic growth.

Senior representatives from multinational companies and financial institutions would also discuss the impact of changes in international capital markets on FDI flows into emerging economies.

"The various groups can engage in dialogue and build relationships for cooperation among themselves and with the World Bank group and the IMF," the officials said adding some seminars would provide potential investors with unique access to policymakers and insights into the business environment in selected countries.

The Indian delegation for the main annual meeting of the Board of Governors, to be held on September 23 and 24, will be headed by RBI Governor Y V Reddy.

The eight-day deliberations also include a strategy meeting to help countries address their local small business community's key needs regarding their linkages into the supply and distribution chains of large investment projects.

Today, the World Bank released a report on 'Gender and Development in the Middle East and North Africa' with focus on 'Women in the Public Sphere.'

Addressing a press conference on the report, a senior  advisor at World Bank Nadereh Chamlou said misconception still remains that employment of women could cost men their jobs.

However, she said the female labour force in the Middle East and North Africa has grown by 50 per cent since 1960, with most countries of the region allocating significant resources to women's education and health, with impressive results.

According to the report, "on an average, MENA seems to be on track for eliminating gender disparity in primary and secondary education by 2005 as called for in the third of the Millennium Development Goals agreed by all members of the United Nations to promote gender equality and empower women."

The report said women in MENA are also living longer and healthier lives and since 1980 their life expectancy has increased by about 10 years mainly because of improved health care and reduced maternal mortality.

The demand for female labour is more tied to the level and nature of growth than the demand for male labour, it said adding past policies of capital-intensive, import-substituting and state driven investment and growth strategies left fewer opportunities for women outside of female-intensive public sector jobs in education and health.

"As the region adopts a new development model that is export-centered, private sector driven and labour intensive, the demand dynamics for female labour will change significantly," the report said.