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...

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...

The Managing Director's Global Policy Agenda (GPA) presented to the IMFC during the Annual Meetings charted a set of actions needed across the membership to secure the recovery and to lay the foundation for a more robust global financial architecture. The GPA also detailed the Fund's role in...

This report by the external panel of experts ('the panel') examines the effectiveness and appropriateness of the safeguards policy over the ten years since the inception of the policy, and most particularly in the five years since its last review. Furthermore, the panel, drawing on its research...

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...

The Managing Director's Global Policy Agenda (GPA) presented to the IMFC in October identified a range of actions needed to prevent growth from settling into a 'new mediocre' with unacceptably low job creation and inclusion. These actions included managing eventual monetary normalization in...

Agenda. Last April was an important milestone for the institution. The commitment to increase Fund resources by over USD 430 billion on a temporary basis attests to the membership's willingness to act collectively and decisively to get ahead of the crisis. For our part, we must continue to...