The IMF in the Process of Change Statement by Horst Köhler Managing Director of the International Monetary Fund On the Occasion of the Spring Meeting of the International Monetary and Financial Committee
April 29, 2001

See also:
Documents Related to the International Monetary and Financial Committtee Meeting of April 29, 2001

Progress in Strengthening the Architecture of the International Financial System
A Factsheet


Report of the Managing Director
to the International Monetary and Financial Committee
on
The IMF in the Process of Change

April 25, 2001

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Contents

  1. Introduction

  2. Refocusing the Work of the Fund
    1. Streamlining Conditionality and Strengthening Ownership
    2. Fund Financing Facilities
        Contingent Credit Lines (CCL)
        Repurchase Expectations
        Surcharges on Credit Outstanding Above a
           Threshold Level
        Extended Fund Facility
        Post-Program Monitoring
    3. Involving the Private Sector in the Resolution of Crises
        Restructuring International Sovereign Bonds
        Corporate Workouts
        Practical Application of the Framework
        Future Work
    4. External Vulnerability
        Reserve Adequacy and Management
        Early Warning Systems and Vulnerability Indicators
    5. Standards and Codes
    6. Prioritizing Technical Assistance
    7. Transparency and Accountability

  3. Strengthening Financial Sector Work and Surveillance
    1. International Capital Market Surveillance
        Recent Work on International Capital Markets
        International Capital Markets Department
        Capital Markets Consultative Group
    2. Strengthening Financial Systems
        Financial Sector Assessment Program (FSAP)
        Offshore Financial Centers (OFCs)
    3. Combating Money Laundering

Boxes
1. A Quiet Revolution in Reserves Policies

Figures
1. Average Number of Structural Conditions per Program Year
    by Type of Country
2. Distribution of Structural Conditions by Economic Sector

Appendix Tables
1. Fund Credit Facilities
2. Comparative Participation in Transparency, FSAP, and
    Standards Initiatives
3. Publication of PINs, Summings Up and Policy Papers
4. Institutions Cooperating in the FSAP by Providing Experts