Japanese Finance Minister Satsuki Katayama to Chair IMF-World Bank Development Committee

Japanese Finance Minister Satsuki Katayama will become chair of the World Bank and International Monetary Fund’s Development Committee, the first Japanese official to hold the post since the committee’s creation in 1974. She is expected to be appointed at the committee’s meeting on Thursday and will begin chairing the spring sessions in Washington. Katayama’s two-year term will follow that of the current chair, Swedish Finance Minister Elisabeth Svantesson.

BloombergKatayama to Become Chair of World Bank-IMF Joint Committee

The Development Committee, composed of finance ministers from major member states, advises both the World Bank and the IMF on development policy. Since its establishment, the chairmanship has rotated among a limited set of countries; Japan has never previously held the position. Prime Minister Sanae Takaichi announced the appointment via an X post, emphasizing the role’s potential to deepen global development discussions and support Japanese corporate interests abroad.

Katayama to Become Chair of World Bank-IMF Joint Committee

She added that her participation in the IMF’s annual meetings in Bangkok will depend on approval from Japan’s Diet. Katayama also noted the “delicate and fluid juncture” of the global economy, referencing the absence of U.S. Treasury Secretary Scott Bessent, who is skipping the Bangkok meetings for domestic engagements. Prime Minister Takaichi said she looks forward to “deeper discussions on global challenges” under Katayama’s leadership and to Japan contributing to the international community while supporting the sustainable growth of the domestic economy.

BloombergKatayama to Become Chair of World Bank-IMF Joint Committee

• “I would like to draw on Japan’s experience, expertise and technology in development policy and a very broad range of related economic policies, including international financial policy, and lead constructive discussions at the committee while working with other countries,” — Satsuki Katayama, japanese finance minister

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• First Japanese chair since the committee’s 1974 inception.

Katayama to Become Chair of World Bank-IMF Joint Committee

• Katayama’s term will run for two years.

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• The committee currently includes ministers from the World Bank and IMF’s major member states.

Katayama to Become Chair of World Bank-IMF Joint Committee