IMF Strengthens Actions to Help Resolve Global Economic Crisis |
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June 4,2009
The International Monetary Fund (IMF) will build upon ongoing efforts to respond rapidly and boldly to the needs of its membership during the current global crisis and will continue to mobilize commitments for increased resources, complete the overhaul of the Fund’s lending framework, further strengthen the quality of its surveillance, and consider reforms in the key area of the Fund’s own governance.
The International Monetary Fund (IMF) will build upon ongoing efforts to respond rapidly and boldly to the needs of its membership during the current global crisis and will continue to mobilize commitments for increased resources, complete the overhaul of the Fund’s lending framework, further strengthen the quality of its surveillance, and consider reforms in the key area of the Fund’s own governance.
“The IMF has played a central role in helping member countries cope with the financial and economic crisis, and we are ready to continue these efforts,” Mr. Strauss-Kahn told the Executive Board during the discussion on the Work Program. “We are moving quickly to advance our top priorities before the Fund’s Annual Meetings in Istanbul in October, with a view to helping the world return as promptly as possible to durable prosperity and financial stability.”
The Fund will strengthen the global financial safety net by taking steps to boost its resources further, strengthen its concessional lending capacity, and adapt its lending tools for low-income countries. It will also monitor and analyze the policy responses by member countries to cope with the impact of the crisis, consider the key issues that countries will have to deal with upon exiting from the crisis and ensure that Fund-supported programs enable countries to restore stability as effectively as possible.
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