The International Monetary Fund can expect little reprieve from its latest role as whipping boy for the developed economies over the failure to stem economic crises in Russia, Asia and, most recently South America when it and the World Bank hold their annual meeting in Washington, starting tomorrow. How much of the problem can be attributed to it and its sister institution is open to question but there can be little argument that the bodies first set up under the Bretton Woods agreement in the 1930s could benefit from reform as we approach a new millennium.

First Active: First Active faces a very active first week as its flotation tomorrow coincides with the most turbulent and bearish period on the markets since the 1987 crash. The fact the latest slump is being led by the financial sector will do nothing for nerves in the group, to say nothing of its army of newly-enfranchised small shareholders.

Monday

A.G.M.: Heiton Holdings (e.g.m.).

Meetings: to Thurs); Going public in Euroland conference Dublin Castle; Irish Permanent Women in Business Seminar (Davenport Hotel, Dublin).

Indicators: British purchasing managers index (Sep); US NAPM (Sep).

Others: First Active outcome of offer to institutions and offer price

Tuesday

Results: Hamley's (H1).

Meetings: IMF/World Bank annual meeting (Washington to Thurs).

Indicators: British industrial production (Aug); German unemployment (Sep).

Others: First Active begins trading in Dublin and London.

Wednesday

Results: IAWS Group.

Meetings: British monetary policy committee meets (to Thurs).

Indicators: US consumer credit (Aug) and retail sales (Sep); German cost of living (Sep), and industrial production (Aug).

Thursday

Results: Axa (H1).

Meetings: IAPF Conference on implementing the national pensions policy initiative (UCD Industry Centre).

Indicators: Irish consumer price index (Sep) and external trade (Jul); British CBI distributive trades survey (Aug); US producer prices (Sep); German consumer price index (Sep).

Friday

Results: Pernod Ricard (H1).