Managing Director's Action Plan to the International Monetary and Financial Committee
Policy Papers, April 18, 2012
Source details
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- Managing Director's Action Plan to the International Monetary and Financial Committee
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Bibliographic details
- Published: April 18, 2012
- Series: Policy Papers
Overview
- Publication date: April 18, 2012
- Context: Builds on the latest Consolidated Multilateral Surveillance Report
- Broad message: Policy actions in Europe and improving U.S. indicators have helped attenuate financial strains, but recent developments highlight the fragility of the world economy and the need to address a formidable policy agenda.
Key risks and challenges identified
- Immediate risks:
- Return of stresses in Europe
- Higher oil prices
- Medium- and longer-term risks:
- Protracted low growth
- Too rapid fiscal consolidation in certain cases
- Deleveraging in key advanced countries
- Uncertain medium-term policy frameworks in some key advanced countries
- Emerging market specific risks:
- Inflation risks
- Elevated oil prices
- Resurgence and volatility in capital inflows
- Consequences of extended credit booms
- Cross-cutting risk:
- Delays in implementing global regulatory reforms
Implications for policy and surveillance
- Need for continued vigilance given lingering financial fragility despite recent easing of strains in Europe and improving U.S. indicators.
- Policy priorities implied by risks:
- Manage immediate stress points in Europe to prevent contagion
- Address fiscal consolidation pacing to avoid undermining growth
- Strengthen medium-term policy frameworks in advanced economies
- Monitor and manage capital flow volatility and inflation pressures in emerging markets
- Accelerate implementation of global regulatory reforms to reduce systemic risk
Publication and access notes
- The IMF eLibrary offers over 25,000 IMF publications in multiple formats.
- Citation example on page: Managing Director's Action Plan to the International Monetary and Financial Committee, (USA: International Monetary Fund, 0) accessed 9/18/2026
Source: Managing Director's Action Plan to the International Monetary and Financial Committee, April 18, 2012. https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/managing-director-s-action-plan-to-the-international-monetary-and-financial-committee-pp4640
Content in this bundle
- Managing Director’s Action Plan; IMFC; April 12, 2012