Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting June 10 2021 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-07-15 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: An unprecedented policy response and rapid progress in vaccinations have helped pull the global economy from a deep recession, but the outlook is marked by high uncertainty and great divergence. Against this background, the Fund continues its efforts to achieve a durable exit from the crisis, minimize long-term scarring, and build a more sustainable, resilient, and inclusive global economy. In line with the strategic directions laid out in the Spring 2021 Global Policy Agenda and the International Monetary and Financial Committee (IMFC) Communiqué, this Work Program puts forward a prioritized Board agenda focused on activities of most critical importance to our members.

Download or read book Statement by the Managing Director on the Work Program of the Executive Board written by International Monetary Fund and published by International Monetary Fund. This book was released on 2018-11-29 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This Work Program (WP) translates the strategic directions and policy priorities laid out in the Fall 2018 Global Policy Agenda and the International Monetary and Financial Committee Communiqué into an Executive Board agenda for the next twelve months. Its main policy priorities and deliverables are as follows: • Advise member countries to rebuild buffers, enhance resilience, and advance structural reforms for the benefit of all to respond to mounting vulnerabilities. The Spring 2019 World Economic Outlook (WEO) will analyze the macroeconomic implications of increased corporate market power. The Global Financial Stability Report (GFSR) will discuss global financial risks in light of tightening financial conditions, while the Fiscal Monitor (FM) will study how improved governance in fiscal frameworks and institutions can reduce corruption vulnerabilities and improve policy outcomes. • Promote cooperation to modernize the multilateral trade system and address other challenges that transcend borders. The spillover chapter of the Spring 2019 WEO will examine the determinants of trade imbalances and spillovers from different trade policies. Building on the “Bali Fintech Agenda,"" staff will provide a stock-take of fintech developments and study the implications for cross-border flows, financial integrity, and global monetary and financial stability in Fintech: The Experience So Far. To support Japan’s G-20 Presidency, staff will prepare a note on Macroeconomic and Fiscal Implications of Aging. • Adapt the Fund’s policy toolkits to further enhance its surveillance, lending, and capacity development. Scoping notes for the Surveillance Review and the Financial Sector Assessment Program (FSAP) Review will establish priorities. The Review of Conditionality and the Design of Fund Supported Programs will assess the effectiveness of Fund program design and conditionality. Building on an earlier paper, the Review of Facilities for Low-Income Countries-Reform Proposals will offer proposals on adjusting these facilities to better meet evolving membership needs. The Fund will implement a multipronged approach to enhance debt transparency and sustainable financing practices. Staff will also strengthen debt sustainability analysis by reviewing the Debt Sustainability Framework for Market Access Countries and the Fund’s Debt Limits Policy. The Revised IMF Policies and Practices on Capacity Development will reflect on suggestions made in recent discussions. • Improve governance of the Fund and modernize its operations. Work on the 15thGeneral Review of Quotas will continue with a view to completing it by the Spring Meetings, and no later than the Annual Meetings, of 2019. The Board will receive a briefing on Modernizing HR Policies and Practices: A Progress Report on Key Initiatives and continue the discussions on the Comprehensive Compensation and Benefits Review."

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting November 24 2008 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2008-11-24 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 our mandate. Addressing these challenges—and doing so within a compressed timeframe—will require strict prioritization on three key areas: (i) providing policy advice and timely financial support that meets members’ needs; (ii) understanding what went wrong; (iii) and assembling the building blocks of a new international financial architecture.

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting October 31 2011 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-10-31 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 solutions to immediate threats to global stability, in particular to provide insightful analysis and policy advice to address fiscalfinancial vulnerabilities and rekindle growth and job creation. Yet we must also be prepared to fortify the global financial safety net. Secondly, we must redouble efforts to make the international monetary system (IMS) stronger in the longer term—through more effective surveillance and a clearer shared vision of the system’s key underpinnings.

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting December 3 2021 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-12-21 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Work Program puts forward an IMF Board agenda focused on activities of critical importance to our members. In line with the strategic directions laid out in the Fall 2021 Global Policy Agenda and the International Monetary and Financial Committee (IMFC) Communiqué, the Work Program supports three policy priorities: (i) vaccinate the world to combat the pandemic everywhere; (ii) calibrate bilateral and multilateral policies to support the recovery and reduce scarring and divergences; and (iii) accelerate the transformation of the global economy to make it greener, more digital, and inclusive. To deliver on this agenda, it is also important to ensure that the Fund remains appropriately equipped to maintain its role at the center of the global financial safety net.

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting November 24 2014 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-12-11 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 advanced economies and its effects on other economies, growth-friendly fiscal policies to enhance the quality of public expenditure and reduce distortions in revenue collection, policies to safeguard financial stability while strengthening credit transmission, structural reforms to buttress productivity and strengthen growth, and increasing investment in infrastructure. The GPA also outlined how the Fund would support the membership through assessments and policy advice provided in the context of multilateral and bilateral surveillance, capacity building, and financial support.

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting June 3 2009 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2009-03-06 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 pledges toward a tripling of its resources; and continuing to strengthen the quality of its surveillance. The work program is heavy, reflecting the responsibilities assigned to the Fund by the international community and the needs of our membership.

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting June 8 2016 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-08-06 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Managing Director’s Global Policy Agenda (GPA) presented to the International Monetary and Financial Committee (IMFC) in April called on member countries to reinforce their commitment to strong, sustainable, inclusive, job-rich, and more balanced global growth and to employ a three-pronged approach with monetary, fiscal, and structural actions (Figure 1). The global economy has been impaired by growth that has been too slow for too long, but it can get back on a stronger and safer track with a more forceful and balanced policy mix. Building on the approach of being agile, integrated, and member-focused, the GPA outlined how the Fund would support members in crafting a better policy mix toward durable global growth. The Fund would assist by clarifying the contours of available policy space, providing more tailored financial support and capacity development, and continuing to address new challenges.

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting June 3 2015 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-03-06 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Managing Director’s Global Policy Agenda (GPA) presented to the IMFC in April identified a range of actions needed to bolster today’s actual and tomorrow’s potential output, diminish risks, and confront emerging global challenges. These actions included calibrating fiscal adjustment to economic conditions while establishing credible long-term fiscal frameworks and implementing growth-friendly fiscal policies, improving monetary policy effectiveness while containing excessive financial risk-taking, and accelerating structural reforms to raise growth potential and ensure inclusiveness. The GPA also outlined how the Fund would support the membership through assessments and policy advice provided in the context of multilateral and bilateral surveillance, financial support, and capacity building. This document translates the policy priorities laid out in the GPA and the IMFC communiqué into a work agenda for the Executive Board over the next 12 months. In particular, the Board will be engaged on several issues of multilateral scope, including quota reform and resources, the SDR basket review, challenges facing the international monetary system, and the post-2015 global development agenda. The work program also includes several items from the action plan of the 2014 Triennial Surveillance Review (TSR).

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting November 23 2015 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-11-23 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Managing Director’s Global Policy Agenda (GPA) presented to the IMFC last month highlights the challenges associated with a rapidly changing and uncertain world. The limited room for policy maneuver and the need to adapt to new realities pose difficult trade-offs between supporting demand and current activity, reducing financial risks as financial conditions tighten, and implementing needed structural reforms to revive growth. Against this backdrop the GPA called to support growth today, invest in resilience and safeguard financial stability, improve the sustainability of the public finances, implement the structural reforms needed for sustainable and inclusive medium-term growth, and secure the effectiveness of the 2010 reforms. This document translates the policy priorities and strategic directions laid out in the Fall 2015 GPA and the IMFC communiqué into an Executive Board agenda for the next twelve months. The key focus of this agenda is to continue to refine and adapt the Fund’s core activities?surveillance, lending, and capacity building?to the challenges faced by member countries. The 2015 Work Program continues the implementation of the 2014 Triennial Surveillance Review (TSR) recommendations and underpins a broader effort of the Fund to respond to the needs of the membership in an even more agile, integrated, and member-focused manner.

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting June 11 2014 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2014-05-30 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Global Policy Agenda (GPA) presented to the IMFC in April 2014 identified a range of actions needed to transform the modest, uneven, and fragile recovery into more rapid, balanced, and sustainable growth. These actions included policies to manage monetary normalization and the associated policy spillovers and spillbacks; reforms to ensure robust growth while reducing vulnerabilities; and steps to facilitate external rebalancing. The GPA also outlined how the Fund would support the membership through assessments and policy advice provided in bilateral and multilateral surveillance, capacity building, and financial support

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting November 16 2016 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2016-07-11 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Work Program (WP) translates the policy priorities and strategic directions laid out in the Fall 2016 Global Policy Agenda (GPA) and the International Monetary and Financial Committee (IMFC) Communiqué into an Executive Board agenda for the next six-twelve months. The Managing Director’s GPA called on members to use a balanced mix of all policy tools to revive demand and raise productivity, and ensure that gains from technology and globalization are shared more broadly. The GPA also warned against retreating from multilateralism at a time when cooperation and coordination are critical. It outlined how the Fund would support the membership by helping policymakers identify policy space and enhance resilience; assisting in understanding and tackling the underlying causes of low productivity growth; supporting members to expand economic opportunities—including by ensuring adequate and effective safety nets; and advocating for multilateralism that works for all. Where the work extends beyond traditional areas, the WP will focus on issues with a macro-economic impact that are systemically important or relevant for many and amenable to change through economic policies.

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting June 19 2017 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2017-07-20 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Work Program (WP) translates the policy priorities and strategic directions laid out in the Spring 2017 Global Policy Agenda (GPA) and the International Monetary and Financial Committee (IMFC) Communiqué into an Executive Board agenda for the next twelve months. The Managing Director’s GPA, welcomed by the IMFC, called on members to continue using supportive policies based on a three-pronged approach to sustain the recovery, to work together within the multilateral framework toward strong and more balanced growth, and to provide economic opportunities for all. It outlined how the Fund would support the membership by promoting efforts to sustain the recovery, lift productivity and increase resilience, and by promoting sustainable policies toward a more inclusive global economy, while facilitating multilateral solutions to global challenges. Where the work extends beyond traditional areas, the WP will focus on macro-relevant issues that are systemically important or relevant for many countries and amenable to change through economic policies.

Download or read book Statement by the Managing Director on the Work Program of the Executive Board Executive Board Meeting May 24 2010 written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2010-06-07 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 and experience, aims to establish a course for the Executive Board to consider that would help the safeguards policy continually improve, adapt to changing world conditions, and remain viable and relevant for the next decade. In gathering data to form its opinion, the panel (i) consulted with stakeholders in the policy (including central bank authorities, IMF Executive Directors’ offices, Fund and World Bank staff, and international audit firms), (ii) examined safeguards and other Fund-specific documents, and (iii) researched international reference materials.

Download or read book Statement by the Managing Director on the FY 2024 Work Program of the Executive Board Executive Board Meeting May 30 2023 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2023-07-21 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Executive Board Work Program (BWP) for FY 2024 (May 2023 to April 2024) focuses on supporting the membership in responding to these challenges through prompt and tailored policy advice, financial assistance—buttressed by efforts to support debt restructuring processes—and capacity development. It ensures that the Board can continue to closely monitor economic and financial developments and discuss macro policy responses. The BWP also provides opportunities to deliberate on key Fund policies and operations. Given continued high uncertainty, the BWP will need to remain flexible and adaptable to prioritize the membership’s changing needs, while recognizing the Fund’s constrained budget environment.

Download or read book Statement by the Managing Director on the FY 2025 Work Program of the Executive Board Executive Board Meeting March 8 2024 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2024-05-03 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Executive Board Work Program (BWP) for FY 2025 (May 2024 to April 2025) is the first since the Executive Board has started to pilot a new strategic cycle, which aims at incorporating Directors’ broader views on work priorities at an earlier stage in the planning process for the fiscal year. Highlevel costing indicators are also included for non-recurring items based on a pilot costing exercise. The BWP focuses on supporting the membership in responding to current challenges through prompt and tailored policy advice, financial assistance, and support for debt restructuring and capacity development.1 It ensures that the Board can continue to closely monitor economic and financial developments and discuss macro policy responses. The BWP also provides opportunities to deliberate on key Fund policies and operations. The BWP will need to stay flexible to prioritize the membership’s changing needs while operating within the Fund’s constrained budget environment.

Download or read book Statement by the Managing Director on the FY 2023 Work Program of the Executive Board written by International Monetary Fund and published by International Monetary Fund. This book was released on 2022-06-27 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Work Program aims to help the membership tackle multiple and complex challenges—most prominently high inflation, along with elevated debt levels, energy and food security, and risks of fragmentation. In addition to discussing policy advice, financial assistance, and capacity development to provide critical support to the countries affected by these compounding crises, the Board will continue to monitor closely the economic and financial developments, new challenges and risks, and discuss policy responses. Work will also focus on implementing the strategies to support a more resilient, inclusive, digital, and green global economy.