In a more shock-prone world, strengthening the financial safety net is more important than ever

This is why the IMF is so important to this system. It is the ultimate global crisis lender and insurer of the uninsured. Yet the IMF’s lending capacity as a share of global external liabilities has gradually diminished over time. And the share of borrowed resources has increased.

To continue to play this critical role at the center of the global financial safety net, permanent quota resources of the IMF need to be boosted. This will bolster the capacity to protect against future crises and, in particular, support members with smaller financial buffers, who need them most.

Opinions expressed in articles and other materials are those of the authors; they do not necessarily reflect IMF policy.