Spring Meetings 2003

Documents Related to the April 12, 2003 International Monetary and Financial Committee Meeting

Report of the Managing Director to the International Monetary and Financial Committee on the IMF's Policy Agenda

Prepared by the Policy Development and Review Department
April 11, 2003

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  1. Introduction

  2. Strengthening IMF Surveillance and Crisis Prevention
    1. The Evolving Framework for IMF Surveillance
    2. The Agenda for Further Improvement
    3. Review of the CCL
    4. The Standards and Codes Initiative and FSAP
    5. Anti-Money Laundering and the Financing of Terrorism

  3. A Better Framework for Crisis Resolution
    1. Access to IMF Resources
    2. Dealing with Unsustainable Sovereign Debt

  4. Use of Fund Resources and Capacity Building
    1. Streamlining and Focusing Conditionality
    2. Prolonged Use of Fund Resources
    3. Technical Assistance

  5. Support for Low-Income Countries
    1. The Fund's Role
    2. Aligning PRGF-Supported Programs and the PRSP Approach
    3. Debt Sustainability in HIPCs
    4. Modalities of Fund Engagement with Low-Income Countries
    5. Trade and Market Access
    6. Monitoring Progress toward the Millennium Development Goals

  6. Enhancing Transparency, Accountability, and Openness
    1. Update on Transparency of the IMF and its Members
    2. Review of the IMF's Communications Strategy
    3. The Independent Evaluation Office

  7. Safeguarding the Cooperative Nature of the IMF
    1. The IMF's Liquidity Position
    2. IMF Quotas
    3. Strengthening the Voice and Representation of Developing Countries

  8. Conclusion

Table 1. Participation in the Transparency, Standards and Codes and FSAP Initiatives
Table 2. Participation in the FSAP
Table 3. Current IMF Lending Arrangements
Table 4. Access to IMF Resources
Table 5. Status of the HIPC Initiative
Table 6. The IMF's Financial Resources and Liquidity Position

Figure 1. Evolution of Structural Conditionality Under the PRGF

Box 1 Core Standards and Codes for Operational Work of the Bank and Fund
Box 2 Key Elements of the Fund's Publication Policy