Report of the Managing Director to the International Monetary and Financial Committee on IMF Quota and Voice Reform

Report of the Managing Director to the International Monetary and Financial Committee on IMF Quota and Voice Reform
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 15
Release: 2008-09-04
Genre: Business & Economics
ISBN: 1498334695

The October 2007 Communiqué of the IMFC called on the Executive Board to develop specific proposals on a new income model and a new expenditure framework by the time of the 2008 Spring Meetings. On April 7, 2008, the Executive Board endorsed a new income model for the Fund and considered a new medium-term budgetary envelope for financial years 2009–11, which includes deep spending cuts, and approved administrative, restructuring, and capital budgets for financial year 2009. As a key element of this new income-expenditure framework, the Executive Board ecommended the adoption by the Board of Governors of an amendment of the Articles of Agreement to expand the Fund’s investment authority. The Executive Board’s recommendation was sent to the Board of Governors, with the voting period running through 6:00 p.m., Washington time, May 5, 2008.

Report of the Managing Director to the International Monetary and Financial Committee on a New Income and Expenditure Framework for the International Monetary Fund

Report of the Managing Director to the International Monetary and Financial Committee on a New Income and Expenditure Framework for the International Monetary Fund
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 15
Release: 2008-09-04
Genre: Business & Economics
ISBN: 1498334679

The October 2007 Communiqué of the IMFC called on the Executive Board to develop specific proposals on a new income model and a new expenditure framework by the time of the 2008 Spring Meetings. On April 7, 2008, the Executive Board endorsed a new income model for the Fund and considered a new medium-term budgetary envelope for financial years 2009–11, which includes deep spending cuts, and approved administrative, restructuring, and capital budgets for financial year 2009. As a key element of this new income-expenditure framework, the Executive Board ecommended the adoption by the Board of Governors of an amendment of the Articles of Agreement to expand the Fund’s investment authority. The Executive Board’s recommendation was sent to the Board of Governors, with the voting period running through 6:00 p.m., Washington time, May 5, 2008.

Report of the Managing Director to the International Monetary and Financial Committee on IMF Quota and Voice Reform

Report of the Managing Director to the International Monetary and Financial Committee on IMF Quota and Voice Reform
Author: Internationaler Währungsfonds
Publisher:
Total Pages: 0
Release: 2006
Genre:
ISBN:

The April 2006 Communique of the IMFC called upon the Managing Director to work with the IMFC and the Executive Board to come forward with concrete proposals on IMF quota and voice reform for agreement at the Singapore Annual Meetings in September 2006. An intensive work program on quotas and voice was launched, involving IMF management and staff consultations with a broad spectrum of the membership and discussions in the Executive Board, building on earlier discussions of this issue, including in the context of the IMF's medium-term strategy. Specific reform proposals were discussed on several occasions by the Executive Board, most recently on August 31, 2006. I am pleased that the Executive Board reached agreement on a comprehensive program of reforms, and recommended that the Board of Governors adopt, by September 18, 2006, a resolution that provides for a two-year plan of action.

Managing Director's Action Plan to the International Monetary and Financial Committee

Managing Director's Action Plan to the International Monetary and Financial Committee
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 5
Release: 2012-04-18
Genre: Business & Economics
ISBN: 149834061X

As described in the latest Consolidated Multilateral Surveillance Report, policy actions in Europe and improving U.S. indicators have helped attenuate financial strains. But recent developments point to the fragility of the world economy and the need to come to grips with a formidable policy agenda. Among the challenges ahead are the immediate risks from a return of stresses in Europe and higher oil prices. Beyond that lie the risks from protracted low growth, too rapid fiscal consolidation in certain cases, deleveraging and uncertain medium-term policy frameworks in some key advanced countries. Many emerging markets may have to deal with inflation risks, elevated oil prices, the resurgence and volatility in capital inflows, and the consequences of extended credit booms. Delays in implementing global regulatory reforms also pose risks.