## IMF Executive Board Discusses Communication Strategy _IMF News, December 6, 2024_ ## Source details **Canonical URL:** [IMF Executive Board Discusses Communication Strategy](https://www.imf.org/en/news/articles/2024/12/05/pr-24449-imf-executive-board-discusses-communication-strategy) ## Other formats - [Markdown version](/en/news/articles/2024/12/05/pr-24449-imf-executive-board-discusses-communication-strategy/index.md) - [Structured JSON version](/en/news/articles/2024/12/05/pr-24449-imf-executive-board-discusses-communication-strategy/index.json) - [Bundle manifest](/en/news/articles/2024/12/05/pr-24449-imf-executive-board-discusses-communication-strategy/bundle-manifest.json) ## Bibliographic details - Published: December 6, 2024 --- ### Background - On November 22, 2024, the Executive Board of the International Monetary Fund (IMF) discussed a paper on the Review of the IMF’s Communication Strategy that: - outlines the objectives and scope of Fund communication, - reviews its implementation in recent years, and - proposes updates and modernization of its approach going forward. - The discussion on Fund communication is in addition to the Board Review of the IMF's Transparency Policy (see Press Release 24/436 referenced in the source). ### Executive Board assessment — substantive findings - Directors welcomed the opportunity to review the Fund’s Communications Strategy and agreed that transparency and communications are critical to the effectiveness of the IMF. - Directors emphasized the Fund’s dual role: being a trusted advisor to authorities and a candid truth‑teller in challenging situations. - Communication is seen as critical to: - building understanding of the Fund’s work, - maintaining trust in the institution’s policy advice, - furthering policy traction, and - contributing to the Fund’s mission of promoting economic and financial stability. - Directors noted commendable progress in enhancing communication since the 2014 Review. - The Fund’s communications approach has been pivotal to effectiveness, especially given: - evolution in the global economy, - significant transformations in communications technology over the last decade, and - the Fund being seen as one of the most effective, trustworthy and influential multilateral institutions in a recent global stakeholder survey. - Directors highlighted the need to maintain and build trust amid global economic uncertainty and media landscape transformations, including the advent of AI. - Legal frameworks underpinning Fund communications have not changed since the last review; many Directors stressed the importance of ensuring communications do not preempt Executive Board discussions. ### Proposed evolution and priorities in communications - Directors endorsed an evolution in the Fund’s approach, supporting measures in the paper to: - transition from “doing more” to being more evidence‑based and selective in communications, focusing on topics within the Fund’s mandate that can provide the most value added; - strengthen communication channels and platforms controlled by the Fund; - unite the Fund’s traditional media operations with social media; - internally, continue to bolster staff community and dialogue on institutional priorities. - Directors called for communications to demonstrate empathy and evenhandedness—issues extending beyond communications itself. ### Audience engagement, targeting, and operational recommendations - Policymakers must remain the Fund’s north star for communications, but reaching a wider audience of policy influencers and the general public was deemed essential to achieving institutional objectives. - Directors welcomed staff proposals to: - expand and deepen engagements with local/regional media and stakeholders, particularly in program countries, including early engagements to inform policy advice; - bring communications upstream into Fund operations, including by informing policy advice; - strengthen the capacity of economic news reporting in developing and low‑income countries. - Many Directors encouraged implementing a more granular segmentation of target audiences to facilitate more effective and tailored communication. - Directors emphasized the importance of direct engagement and relationship management with country authorities and strengthening communication skills across the institution to increase traction of Fund policy advice. - Some Directors called for more active engagement on strategic or sensitive issues. ### Measurement, evaluation, and use of technology - Directors recognized progress in measuring the impact of the Fund’s communications through digitalization of communications products and availability of real‑time analytical tools. - Calls for further efforts included: - strengthening the Fund’s evaluation framework for communications, with many Directors urging staff to employ a modern goal‑setting framework; - utilizing impact measurement in line with industry standards; - greater consideration of integrating AI in measurement tools; - more regularly soliciting stakeholder feedback. ### Governance, review cycle, and reporting - Directors agreed the Communications Strategy should be reviewed more regularly, with formal reviews scheduled on a five‑yearly basis. - Directors welcomed the proposal for annual updates to the Board on the implementation of the Strategy, including the practical application and operationalization of a detailed plan in a flat budget environment. - Press Release No. 24/449 - Publication date on page: December 6, 2024 *IMF Executive Board Discusses Communication Strategy — press release summary* --- ## References - [https://www.imf.org/-/media/images/imf/bios/imfboard.jpg](https://www.imf.org/-/media/images/imf/bios/imfboard.jpg) - [The Executive Board](https://www.imf.org/external/np/sec/memdir/eds.aspx) - [Press Releases](https://www.imf.org/en/news/searchnews) - [PRESS CENTER](http://presscenter.imf.org/) - [Press Release 24/436](https://www.imf.org/en/News/Articles/2024/11/25/pr-24436-imf-concludes-rev-transparency-policy-open-archives-policy-approves-reforms) - [https://www.imf.org/en/home](https://www.imf.org/en/home) _Source: https://www.imf.org/en/news/articles/2024/12/05/pr-24449-imf-executive-board-discusses-communication-strategy_