## Statement by the Acting Managing Director on the Work Program of the Executive Board - Executive Board Meeting - May 20, 2011

_Policy Papers, May 20, 2011_

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**Canonical URL:** [Statement by the Acting Managing Director on the Work Program of the Executive Board - Executive Board Meeting - May 20, 2011](https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/statement-by-the-acting-managing-director-on-the-work-program-of-the-executive-board-pp4568)

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## Bibliographic details
- Published: May 20, 2011
- Series: Policy Papers

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### Overview of global context
- The global economy is facing complex challenges.
- Variation in recovery strength and quality across regions produces divergent concerns:
  - In most advanced economies: slow and job-poor growth, amidst fiscal and financial vulnerabilities.
  - In most emerging markets: rapid credit growth, large capital inflows, and inflationary pressures.
  - Rising food and fuel prices affect all members, but low-income countries most harshly.
- Crisis hot spots persist in some regions, and global imbalances show little sign of receding.
- Global policy cooperation remains critical, as emphasized by participants at recent IMFC and G-20 meetings.

### Fund mandate and strategic focus
- The Fund’s mandate of promoting cooperation on global economic and financial problems is highly relevant given current conditions.
- Given the vast scope of challenges, the Acting Managing Director prioritizes focusing the Fund’s efforts on key issues facing the membership in the near and medium terms.

### Priority areas (near and medium term)
- Pursuing growth consistent with macro-financial stability.
- Reforming the international monetary system.
- Responding to the challenges confronting low-income members in the face of a difficult global environment.
- Cross-cutting theme: enhance surveillance of the global economy to be ahead of the curve.

### Key messages and implications for the Executive Board work program
- Emphasize policy cooperation among members to address divergent regional challenges and persistent global imbalances.
- Concentrate Fund resources and attention on the three identified priority areas to maximize impact.
- Strengthen surveillance capabilities to identify risks earlier and support proactive policy responses.

### Metadata and thematic tags (as stated on source)
- Subject: Corporate governance, Economic growth, Executive Board calendar, Executive Board work program, Financial safety nets, Fund role, International cooperation, International monetary system, Low-income developing countries, Managing Director reports, Surveillance
- Date: May 20, 2011

*Statement by the Acting Managing Director on the Work Program of the Executive Board - Executive Board Meeting - May 20, 2011*

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/statement-by-the-acting-managing-director-on-the-work-program-of-the-executive-board-pp4568_