## The Managing Director's Global Policy Agenda: Rising Risks: A Call for Policy Cooperation

## Source details

**Canonical URL:** [The Managing Director's Global Policy Agenda: Rising Risks: A Call for Policy Cooperation](https://www.imf.org/en/publications/policy-papers/issues/2018/10/10/gpa-am102018-rising-risks-a-call-for-policy-cooperation)

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## Bibliographic details
- Published: October 11, 2018

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### Growth outlook and risks
- Global growth remains strong.
- The recovery has created jobs and increased incomes.
- Growth momentum is moderating.
- Previously identified risks have partly materialized or have become more pronounced.
- A rapid reversal in financial market conditions, ten years after the global financial crisis, could again expose debt vulnerabilities at a time when many countries have more limited policy space.
- The window of opportunity to guard against risks and raise medium-term growth prospects is narrowing.
- Now is the time for policymakers to act to rebuild policy space, strengthen resilience, and implement structural reforms for the benefit of all.

### Policy priorities and recommendations
- Rebuild policy space.
- Strengthen resilience.
- Implement structural reforms for the benefit of all.
- Modernize the trade system to boost inclusive growth.
- Reduce excess global imbalances.
- Improve debt dynamics.
- Leverage technology to support growth and inclusion.

### Multilateralism and global cooperation
- Waning support for multilateralism is fueling policy uncertainty.
- Improved global cooperation is precisely what is needed to boost inclusive growth by modernizing the trade system, reducing excess global imbalances, improving debt dynamics, and leveraging technology.

### IMF actions and strategic focus
- Continue to review Fund policies and strategies to enhance Fund advice and support multilateralism.
- Areas of ongoing work include surveillance, program conditionality, capacity development, debt limits, and anti-money laundering and the combatting of terrorism financing.
- The IMF eLibrary offers over 25,000 IMF publications in multiple formats.

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2018/10/10/gpa-am102018-rising-risks-a-call-for-policy-cooperation_