Finance Minister P Chidambaram is expected to address the IMF-World Bank's spring meeting on April 12 and 13 that is likely to be dominated by the impact of US recession, global inflation and consequent credit crunch leading to global economic slowdown.
Chidambaram along with Finance Secretary D Subbarao, Chief Economic Advisor Arvind Virmani and other senior officials will attend the meeting.
He will leave for the US on April 10 and will be back on April 14, sources said. He is expected to take up India's concerns of rising global food and commodity prices, besides spiraling crude oil prices in the backdrop of domestic inflation, which has touched a three-year high of 7 per cent.
Each spring, the IMF's International Monetary and Financial Committee and the joint World Bank-IMF Development Committee hold meetings to discuss progress on the work of the Fund and Bank.
The meeting is also expected to discuss the voting pattern to give a greater share to developing countries at the IMF. Last month in Singapore, Chidambaram had criticised the West especially America's bio-fuel policy for rise in global food prices and lack of adequate regulations in the US leading to sub-prime mortgage crisis.
India could also take up the issue of hike in financial assistance by the World Bank to the country for infrastructure projects including roads, ports, railways and irrigation.
Chidambaram is also expected to meet other world leaders as the finance ministers of the US, UK, Japan, Italy, Canada, Germany and France would be there for the IMF-World Bank and G-7 meetings along with Central Bank governors of different countries.
Sources said the IMF is likely to impress upon the world leaders to take proactive measures to prevent deepening of recession, which in combination with the credit crisis could adversely impact the economic growth across the globe.
In March, annual inflation in the European Union also went up to 16 year high of 3.5 per cent, mainly due to rising energy and food prices. IMF Chief Dominique Strauss, who has warned that market turmoil will take a serious toll on world growth, had emphasised the need for public intervention which has become more evident.
At the meeting, World Bank and the IMF could also put pressure on the developing countries, including India and China, to slow down to reduce energy consumption, the sources added.
