Council of chief economists of multilateral development institutions created

WASHINGTON, Oct. 11 (Xinhua) -- World Bank Chief Economist Justin Lin announced on Saturday an agreement to create the Council of Chief Economists of Multilateral Development Institutions (CCE).

A joint initiative of the chief economists of the World Bank and the International Monetary Fund, the CCE will serve as a forum for intellectual exchange, and for discussing collaborative responses that are adapted to the particular needs of client countries.

The council will allow top experts to share ideas on emerging global issues and their short term and long term impact on developing countries and will facilitate the organization of just-in-time joint research programs.

The idea, supported by World Bank President Robert B. Zoellick, has already received the support of all the time invited institutions including IADB, AFDB, ABD, Islamic Development Bank, EBRD, EIB and OECD.