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Press Release - 29 May 2002

Jersey plays host to a seminar sponsored by the International Monetary Fund

Leading figures from the International Monetary Fund (IMF) are gathering in Jersey over the next few days to share their views on a survey which seeks to measure the flow of capital through major offshore jurisdictions such as Jersey.

The seminar, which will address the results of the survey, is the first time offshore financial markets have participated in such an exercise.

The seminar is organised by the Jersey Financial Services Commission and is being attended by an international audience from leading offshore jurisdictions around the world. Senior financial regulators and leading representatives from the IMF in Washington will discuss the results of the survey which will prove invaluable in endeavouring to ensure the stability of the international financial system. It is hoped that the outcome of the exercise will enable governments to assess their countries' liability exposure into the securities markets and the likely impact of the capital flow on their domestic economy.

The seminar, which opened yesterday, was introduced by Simon Quinn, Deputy Chief, Balance of Payments and External Debt Division, IMF Washington.

The other representatives from the IMF are:

John Joisce, Senior Economist

Rob Dippelsman, Economist

Samuele Rose, Economist

Simon Quinn and John Joisce will be available for interview, from 13.30-14.00 on Thursday 30 May 2002, at the Grand Hotel.

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