Section 10 of the International Monetary Agreements Act 1947 provides that the Treasurer shall prepare and cause to be laid before each House of the Parliament a report on the operations of the Act and of the operations, insofar as they relate to Australia, of the Articles of Agreement of the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD) during each financial year.
Section 7 of the International Bank for Reconstruction and Development (General Capital Increase) Act 1989 provides that the Treasurer shall prepare and cause to be laid before each House of the Parliament a report on the operations of the Act during each financial year.
This report aims to meet the requirements of both Acts for the financial year 2012-13.
The IMF and the World Bank Group (comprising the IBRD, the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID)) publish annual reports that provide comprehensive reviews of the operations of these institutions. The IMF and World Bank also make information available on their websites: www.imf.org and www.worldbank.org.
I commend this report to the Parliament.
J. B. HOCKEY
Treasurer of the Commonwealth of Australia