Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - October 31, 2011

October 31, 2011

Preview Citation

Format: Chicago

Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - October 31, 2011 , (USA: International Monetary Fund, 0) accessed December 26, 2024

Summary

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.

Subject: Corporate governance, Executive Board work program, Financial stability, International monetary system, Low-income developing countries, Managing Director reports, Technical assistance

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