Washington, D.C: Ireland’s Minister for Finance and President of the Eurogroup, Paschal Donohoe T.D., has arrived in Washington to represent both Ireland and the euro area at the 2025 Annual Meetings of the International Monetary Fund (IMF) and World Bank. The high-level gathering brings together global finance ministers, central bank governors, and institutional leaders to address pressing economic and development challenges.
Speaking ahead of the meetings, Donohoe underscored the importance of multilateral cooperation in navigating global instability. “These institutions celebrated their 80-year anniversary last year, and now, maybe more than any time in recent memory, they are needed to help address the global challenges that we face,” he said. He emphasized that multilateralism remains essential amid persistent conflicts and economic turbulence.
Ireland’s Support for Gender Representation
Minister Donohoe announced Ireland’s formal backing of a World Bank declaration to promote female representation on its Board of Executive Directors. The initiative aligns with Ireland’s foreign policy and the Programme for Government’s commitment to achieving at least 40% gender representation in leadership roles.
“This excellent initiative is in line with one of the core policy priorities of Ireland’s foreign and international development policy,” Donohoe stated, reinforcing Ireland’s advocacy for inclusive governance.
Strategic Engagements
During the week, Donohoe will participate in several key forums:
- G20 Finance Ministers and Central Bank Governors Meeting
- Coalition of Finance Ministers for Climate Action
- G7 Finance Ministers and Central Bank Governors Meeting, in his role as Eurogroup President
He will also engage with international media to highlight the European economic and financial policy agenda, including stability, climate finance, and inclusive growth.
Broader Context
The Annual Meetings come at a time of heightened global uncertainty, with inflationary pressures, debt sustainability, and climate financing dominating the agenda. As Eurogroup President, Donohoe plays a pivotal role in shaping collective European responses to these challenges.
His presence in Washington reflects Ireland’s active role in global financial governance, and its commitment to equity, resilience, and sustainable development through multilateral institutions.
Sources: Department of Finance; Consilium; Business Post; RTÉ News Consilium gov.ie Business Post.
