Swiss Federal Councillor Karin Keller-Sutter’s overall assessment at the end of the Spring Meetings of the International Monetary Fund (IMF) and the G20 Finance Ministers Meeting in Washington was a positive one. Switzerland reaffirmed its involvement in future international regulations to safeguard financial market stability. The Swiss government’s swift and decisive intervention to support the takeover of Credit Suisse by UBS was well received by the IMF and the G20.
The global economic challenges posed by rising inflation and turbulent financial markets were the main topics of this year’s Spring Meetings of the IMF and the G20 Finance Ministers. For Federal Councillor Karin Keller-Sutter, who travelled to Washington immediately after the extraordinary session of Parliament, it was a good opportunity to present Switzerland’s interests: “We will continue to play an active part in the further development of the international regulatory framework to safeguard financial market stability.”
A number of bilateral meetings with finance ministers took place on the fringes of the multilateral meetings. Federal Councillor Keller-Sutter met with Janet Yellen (USA) and had discussions with Bruno Le Maire (France), Jeremy Hunt (UK), Nadia Calvino (Spain) and Sigrid Kaag (Netherlands), as well as IMF Managing Director Kristina Georgieva, ECB President Christine Lagarde, OECD Secretary-General Mathias Cormann and European Commissioner Paolo Gentiloni. Summing up, the Federal Councillor said “it was broadly recognised that, faced with a very difficult situation, Switzerland found a solution to safeguard financial stability both nationally and internationally”.