PHNOM PENH: A delegation of the National Bank of Cambodia (NBC) led by H.E. Rath Sovannorak, Assistant Governor and Director General of NBC’s Banking Supervision, attended the 2025 Spring Meetings of the International Monetary Fund (IMF) and the World Bank from April 21-26, 2025 in Washington, DC, USA.
The Spring Meetings are organised annually before the Annual Meetings at the headquarters of the IMF and the World Bank, with the participation of leaders from central banks and ministries of finance, the private sector, academics, and other stakeholders in the financial sector.
The purpose of the meetings was to discuss the progress, prospects, and challenges of the economic and financial situation in the region and the world.
For 2025, the meeting focused on the impact of U.S. tariff policies that have affected and increased uncertainty in the international trading system and the economic and financial situation of each country as well as the region, in which the IMF also lowered its forecasts for the regional and global economy.
In this situation, the IMF outlined a number of policy measures, including promoting digitalisation and artificial intelligence, increasing intra-regional trade, promoting domestic consumption, addressing demographic changes, and supporting climate change transition mechanisms, etc.
In addition, each country should take this opportunity to review the policies put in place to meet the expected goals.
H.E. Rath Sovannorak was also invited to be a speaker at the launch of the Decision Data Fund Phase 2.
Besides, he held discussions with relevant departments of the IMF, the Financial Stability Facility, the central bank of Luxembourg, and the central bank of Rwanda on the strengthening of partnerships and promote new cooperation.