Senior International Monetary Fund, IMF, and World Bank, WB, Group officials will address the current challenges facing the world economy at an annual three-day meeting, from today to October 11th in Lima, Peru. The main topics for discussion will include combating illicit financial flows, private investment in renewable energy, structural reforms and managing the volatility of commodity revenues.Central bankers, Finance Ministers and private sector executives from throughout the world are also expected to address the refugee crisis in Europe, as well as the situations in Ukraine and Greece. The IMF said on its website that at the Annual Meetings, the Boards of Governors make decisions on how current international monetary issues should be addressed and approve corresponding resolutions.On Tuesday, the IMF downgraded the economic growth outlook for advanced economies to 2.0 percent in 2015, and 2.2 percent in 2016. The Fund also announced that global economic growth would decline in 2015 to 3.1 percent before reaching 3.6 percent in 2016.