PNG Treasurer Pruitch departs to hand over World Bank and IMF chairmanship

PNG Treasurer, Hon. Patrick Pruaitch, CMG, MP, will formally hand over the chairmanship of the World Bank and International Monetary Fund (IMF) Boards of Governors next week in Washington DC, USA.

This will happen after he chairs the annual Board meetings of the two organization during which he will also officially address them.

The Minister departed for the United States today for the official hand-over take-over ceremony which will be overseen by the full Boards of both financial organisations.

Minister Pruaitch’s successor is the, Hon. German Rojas, who is the Finance Minister for the South American nation of Paraguay.

Under the official protocols, the position of chairman is selected on a rotational basis by region with the final decision made by the Boards of Governors.

 “It has been an honor and privilege for Papua New Guinea to serve as Chairman of these two boards in the past year,” Mr Pruaitch said.

 “It was a challenge as a country and for me as Treasurer to head this global and 188-member organisations’ boards, with whom we have always worked closely.

“In Washington I will be holding talks with the two organisations that have a direct input in many of our development projects, policies and programs and through their annual budgetary contributions and donations.


“Donor funding is an integral aspect of our annual national budgetary process.”