Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - November 16, 2016

Policy Papers, November 7, 2016

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This Work Program (WP) translates the policy priorities and strategic directions laid out in the Fall 2016 Global Policy Agenda (GPA) and the International Monetary and Financial Committee (IMFC) Communiqué into an Executive Board agenda for the next six-twelve months.
The Managing Director’s GPA called on members to use a balanced mix of all policy tools to:
- revive demand;
- raise productivity; and
- ensure that gains from technology and globalization are shared more broadly.
The GPA warned against retreating from multilateralism at a time when cooperation and coordination are critical.

Use of a balanced mix of all policy tools to address weak demand and low productivity.
Emphasis on sharing gains from technology and globalization more broadly across societies.
Advocacy for multilateralism and strengthened cooperation and coordination among members.

The WP specifies how the Fund would support membership by:
- helping policymakers identify policy space and enhance resilience;
- assisting in understanding and tackling the underlying causes of low productivity growth;
- supporting members to expand economic opportunities—including by ensuring adequate and effective safety nets; and
- advocating for multilateralism that works for all.
Where work extends beyond traditional Fund areas, the WP will focus on issues that:
- have a macro-economic impact;
- are systemically important or relevant for many members; and
- are amenable to change through economic policies.

The Executive Board agenda derived from the GPA and IMFC Communiqué covers the next six-twelve months.
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Statement by the Managing Director on the Work Program of the Executive Board - Executive Board Meeting - November 16, 2016, November 7, 2016