The world's leading finance ministers have been arriving in Nairobi Kenya for the beginning of their week-long conference on Monday (22 Sept)--the annual meeting of the International Monetary Fund (I.
SCU PAN Japanese Finance Minister with Kenyan F.M. Mwai Kabaki entering airport building (2 shots)
SCU Japanese delegation walking towards airport building
SV Mr. Johannes Watteven and Mr. Robert MacNamara down steps of aircraft and being greeted by Mr. Mwai Kabaki
SV PAN Party enter airport building
SV INT Mr. Mwai Kabaki, Mr. Johannes Watteven and Mr. MacNamara take seats
SCU Watteven speaks
"The world press is already quite full with discussions of what might happen, especially about monetary reform: That the Nairobi meeting may be a milestone, or an important step forward in this very difficult process of monetary reform--although, of course, it will not be possible to reach complete agreement here, that would be too much to hope for. But I think, we should be able to make some progress on the log road to monetary reform that is very important to the world, certainly also for the developing countries and for Africa."
The so-called "Committee of 20 Ministers", charged with reshaping the defective currency system, will meet on Sunday (23 September) to seek further compromise on the reforms, ahead of the full-scale meeting of the 136-nation I.M.F. World Bank.
Initials BB/0115 CH/PN/BB/0130
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Background: The world's leading finance ministers have been arriving in Nairobi Kenya for the beginning of their week-long conference on Monday (22 Sept)--the annual meeting of the International Monetary Fund (I.M.F.)
Arriving delegates expressed doubt that any substantive headway would be made in the Nairobi conference, but that the talks should serve as a useful way-station in the continuing negotiations seeking to forge a new world monetary system.
Mr. Johannes Watteven, Secretary-General of the I.M.F. expressed is reservations at an airport news conference upon his arrival on Friday (21 September):
SYNOPSIS: Japanese Finance Minister Kiichi Aichi is welcomed by Kenyan Finance Minister Mwai Kabaki at Nairobi Airport, as the world's top financial experts stream into the Kenyan capital for the start of the annual International Monetary Fund conference.
While the conference officially opens on Monday, the "Committee of 20 Ministers" -- who are charged with reshaping the defective world currency system--will meet on Sunday to try and work out compromises in advance of the meeting of the full one-hundred and twenty-six nation body.
Mr. Johannes Watteven, Secretary-General of the I.M.F. and Robert MacNamara, President of the World Bank, arrived in Nairobi on Friday... While there are major problems that the conference will have to try and resolve, there is not much hope that the Nairobi conference will result in any major solutions...At an airport news conference Mr. Watteven told what he expected of the Nairobi conference.