The President of the Eurogroup and Minister for Public Expenditure, National Development Plan Delivery and Reform Paschal Donohoe and Finance Minister Jack Chambers are in Washington today for the annual neetings of the International Monetary Fund and the World Bank Group.
The annual meetings provide the opportunity for finance ministers and central bank governors from around the world to meet and discuss global economic and development challenges.
This year's meetings take place 80 years since the creation of the IMF - a key element in the global finance safety net - and the World Bank, which seeks to end extreme poverty and boost shared prosperity on a liveable planet.
Paschal Donohoe will take part in the G7 Finance Ministers' and Central Bank Governors' meeting, as well as in a series of key discussions during the IMF and World Bank meetings.
Main topics on the agenda include the global economic outlook, financial stability, support for Ukraine, the implications of Artificial Intelligence, and sustainable development.
During his visit, Minister Donohoe will also engage in a series of bilateral meetings with senior officials from international organisations, global business leaders and international partners and will also participate in media engagements to highlight the European economic and financial policy agenda.
Minister Donohoe said that the global economy is at a delicate juncture and while important strides in addressing inflation has been made, challenges remain.
"Economic activity in the euro area has shown resilience despite recent signs of softening in a difficult external environment," Mr Donohoe said.
"Returning to higher levels of growth and enhancing our competitiveness over the medium term are key objectives guiding our discussions and policy decisions. We are making significant progress, including the implementation of the new fiscal framework, advancing the Capital Markets Union agenda and coordinating economic policies to ensure stability and sustainable growth in the euro area," he added.
"80 years after the initial 44 countries met at Bretton Woods in New Hampshire, I believe that the importance of the IMF and World Bank persists," Jack Chambers said.
"Then, even as global conflict continued, there was an understanding that multilateralism would be critical to securing an effective and resilient peace. Now, more than ever, we need these institutions to help address the global challenges we face," he added.
