IMF & Worldbank Visit

Our excursion to the IMF and the World Bank

On Thursday September 8th 2016, the seniors of the German School, along with Herr Dr. Lother, Frau Christoph and Frau Dr. Heep, had the honor of visiting the International Monetary Fund and the World Bank.
The precise introduction about structure and functions of the IMF by Peter Kunzel took place in the official meeting room of the Executive Directors. The following question and answer debate about this International Governmental Organisation was lead by Dr. Rosenberg (IMF Communications Department) as well as German Executive Director  Dr. Steffen Meyer, answering questions fostered many students’ curiosity, allowing an interesting and lively discussion.
Our interactive conversations with experienced employees of the IMF did not end there. Our grade split up into smaller groups, each of which sat with one staff-member in the cafeteria for lunch.

Afterwards, we headed straight to the World Bank. These two organizations are not just geographically proximate but also in their causes. The short introduction clearly emphasized the World Bank’s ultimate goal: To end poverty.
An expert of the International Finance Cooperation described how a simple lending system could potentially catalyze progress in the Ghanaian economy. Lastly, Christopher Sheldon familiarized us with a project to end routine gas flaring (in which tons of gas is being burnt unintentionally and uselessly). Supposedly, the entire continent of Africa could profit from this improvement.
(Below are two videos on the topics we discussed at the World Bank.)

In conclusion, our day trip to these organizations has opened many eyes to the touching subject of poverty, and introduced us to the complex process of providing financial support. It is safe to say that many of us have been inspired and will abide by the final request of the World Bank to spread awareness and take action!
(Note: The official “End Poverty” day is on October 17th!)

Ghana’s first online collateral registry:

Gas flaring:

by Ladina B.

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