12 September 2001

Statements from IMF, World Bank on Terrorist Attacks

Monetary institutions and systems around the world are working well following September 11 terrorist attacks in New York and Washington, says the managing director of the International Monetary Fund (IMF).

In a September 12 statement, Horst K��ler said key monetary authorities are working to ensure the "orderly functioning" of financial markets. K��ler expressed sympathy with the United States and condolences to victims and their families.

In a September 12 World Bank statement Bank president James Wolfensohn also expressed sympathy and "solidarity with the American people."

Following are the IMF and World Bank statements:

(begin IMF text)

IMF Statement on Tragic Events in the United States

International Monetary Fund Managing Director Horst K��ler issued the following statement today:

"On behalf of the Executive Board, Management, and Staff of the International Monetary Fund, I wish to express our shock and deep sorrow at the tragic events that occurred in the United States yesterday, to express our sympathy with the United States of America, and to extend our heartfelt condolences to the victims and their families.

I have been in touch with a number of key monetary authorities around the world, and they are taking action to ensure the orderly functioning of financial markets. We can take encouragement from the fact that the monetary institutions and systems are working well, which demonstrates a fundamentally resilient international financial system. I have assured the membership of the IMF that the Fund is closely monitoring the situation, and stands ready to assist its member countries as appropriate. Our present assessment is that, despite the scale of the human tragedy, these terrible events will have only a limited impact on the international economy and global financial system."

(end IMF text)

(begin World Bank text)

World Bank Extends Sympathy to United States

Washington, September 12, 2001 -- The following is a statement issued today by World Bank President James D. Wolfensohn.

On behalf of the Board of Executive Directors, Management, and staff of the World Bank Group, I wish to express our shock and deep sorrow at the tragic events that occurred in the United States on September 11th. We express our deepest sympathy and solidarity with the American people, and the United States authorities, and extend our heartfelt condolences to the families of all who were killed or injured in New York, Washington D.C., and Pennsylvania.

(end World Bank text)