The global economy is going through a period of unprecedented financial instability. The Fund has been asked by the IMFC to play a leading role in helping the membership both to deal with the immediate crisis and work towards a new strengthened global architecture. These tasks are well within...

The Fund, called on to support a global response to the global crisis, has delivered with strengthened surveillance, policy advice and financing with modernized instruments. As I noted in Istanbul, where the membership expressed its appreciation for these accomplishments, we need to focus in the...

At the Annual Meetings in Singapore, the Board of Governors approved a program of quota and voice reforms (Resolution 61-5) that aims to enhance the effectiveness and credibility of the Fund. This report responds to that request and reflects the extensive discussions by the Executive Board over...

Against the backdrop of a global economic crisis, the IMFC has underscored the Fund's central role in responding to its membership's needs and restoring prosperity and financial stability. The Fund has acted with alacrity-by overhauling its lending framework; mobilizing strong support and firm...

Persistent challenges: The multi-speed nature of the global economic recovery is testing the system, with strains already appearing in the form of large capital inflows to many emerging market countries and exchange rate pressures. At the same time, slow employment growth, high indebtedness, and...

This report sets out a proposal for a second-round package of reforms consistent with the framework agreed in the Singapore Resolution and, to that end, recommends that the Board of Governors approve the resolution that is appended to this Report (the "Resolution")

The global economy has entered a dangerous new phase with severe downside risks. The Fund has been called by the IMFC to contribute to an orderly resolution of these tensions, and the membership must be prepared for bold action. Our first responsibility is to help develop and coordinate...

From stabilization to growth. The Global Policy Agenda (GPA) presented to the IMFC during the 2013 Spring Meetings charted a range of actions needed to invigorate a sustainable recovery and to make the global economy more resilient. The GPA also outlined how the Fund can best assist members in...