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Abstract
The Annual Report 2008 to the Board of Governors reviews the IMF's activities and policies during the financial year (May 1, 2007, through April 30, 2008). There are five chapters: (1) Overview: Refocusing the IMF; (2) Developments in the Global Economy and Financial Markets; (3) Fostering Macroeconomic and Financial Stability and Growth Through Surveillance; (4) Program Support and Capacity Building; and (5) Governance, Organization, and Finances. The full financial statements for the year, other appendixes, and materials supplementing the text are provided on a CD-ROM.
Abstract
The Annual Report 2008 to the Board of Governors reviews the IMF's activities and policies during the financial year (May 1, 2007, through April 30, 2008). There are five chapters: (1) Overview: Refocusing the IMF; (2) Developments in the Global Economy and Financial Markets; (3) Fostering Macroeconomic and Financial Stability and Growth Through Surveillance; (4) Program Support and Capacity Building; and (5) Governance, Organization, and Finances. The full financial statements for the year, other appendixes, and materials supplementing the text are provided on a CD-ROM.
Abstract
The Annual Report 2008 to the Board of Governors reviews the IMF's activities and policies during the financial year (May 1, 2007, through April 30, 2008). There are five chapters: (1) Overview: Refocusing the IMF; (2) Developments in the Global Economy and Financial Markets; (3) Fostering Macroeconomic and Financial Stability and Growth Through Surveillance; (4) Program Support and Capacity Building; and (5) Governance, Organization, and Finances. The full financial statements for the year, other appendixes, and materials supplementing the text are provided on a CD-ROM.
Abstract
The Annual Report 2008 to the Board of Governors reviews the IMF's activities and policies during the financial year (May 1, 2007, through April 30, 2008). There are five chapters: (1) Overview: Refocusing the IMF; (2) Developments in the Global Economy and Financial Markets; (3) Fostering Macroeconomic and Financial Stability and Growth Through Surveillance; (4) Program Support and Capacity Building; and (5) Governance, Organization, and Finances. The full financial statements for the year, other appendixes, and materials supplementing the text are provided on a CD-ROM.
Abstract
The Annual Report 2008 to the Board of Governors reviews the IMF's activities and policies during the financial year (May 1, 2007, through April 30, 2008). There are five chapters: (1) Overview: Refocusing the IMF; (2) Developments in the Global Economy and Financial Markets; (3) Fostering Macroeconomic and Financial Stability and Growth Through Surveillance; (4) Program Support and Capacity Building; and (5) Governance, Organization, and Finances. The full financial statements for the year, other appendixes, and materials supplementing the text are provided on a CD-ROM.
Abstract
The Annual Report 2008 to the Board of Governors reviews the IMF’s activities and policies during the financial year (May 1, 2007, through April 30, 2008). There are five chapters: (1) Overview: Refocusing the IMF; (2) Developments in the Global Economy and Financial Markets; (3) Fostering Macroeconomic and Financial Stability and Growth Through Surveillance; (4) Program Support and Capacity Building; and (5) Governance, Organization, and Finances. The full financial statements for the year, other appendixes, and materials supplementing the text are provided on a CD-ROM.
Abstract
El Informe Anual 2008 a la Junta de Gobernadores pasa revista a las actividades y políticas del FMI durante el ejercicio (1 de mayo de 2007 al 30 de abril de 2008). Consta de cinco capítulos: 1) Panorama general: El FMI replantea su misión; 2) La situación de la economía mundial y de los mercados financieros; 3) La supervisión como medio para fomentar la estabilidad y el crecimiento macroeconómico y financiero; 4) Respaldo a los programas y fortalecimiento de las capacidades, y 5) Organización, estructura de gobierno y finanzas del FMI. Los estados financieros completos correspondientes al ejercicio, así como otros apéndices y material complementario se publican en CD-ROM.
Abstract
Le rapport annuel 2008 au Conseil des gouverneurs examine les activités et les politiques du FMI au cours de l'exercice écoulé (du 1er mai 2007 au 30 avril 2008). Il comporte cinq chapitres : 1) Vue d'ensemble : le recentrage de l'activité du FMI ; 2) Évolution de l'économie et des marchés financiers mondiaux ; 3) La surveillance pour promouvoir la stabilité macroéconomique et financières ainsi que la croissance ; 4) Appui au programme et renforcement des capacités ; 5) Gouvernance, organisation et finances. Les états financiers complets de l'exercice, d'autres appendices et des documents complétant le texte sont fournis sur CD-ROM.
Abstract
One result of the IMF's move to increased openness are independent external evaluations of important IMF policies, to complement its own in-house evaluations. This paper, prepared by a team of evaluators, includes in addition to the external evaluation, a statement by Bernd Esdar, Chairman of the Executive Director's group concerned with external evaluations; the summing up by IMF Managing Director Michel Camdessus of the Executive Board's discussion of the report; the terms of reference; and the IMF staff's response to the evaluation.
Abstract
The global economy faced a number of challenges during FY2008. As problems in the U.S. subprime mortgage market spilled over into other credit markets, growth prospects slowed in a number of the advanced economies; at the same time, prices for food and oil surged, adding to inflationary pressures worldwide and creating severe hardships for many low-income countries.1 The IMF’s Executive Board—in accordance with the Fund’s core mandate of safeguarding global macroeconomic and financial stability—responded to these developments immediately, strengthening the Fund’s analysis of financial sector issues, recommending policies that could help member countries mitigate the impact of turmoil in financial markets on their economies, and offering policy advice to low-income countries on macroeconomic management in the face of rising costs for food and fuel as well as financial assistance to members in this group experiencing balance of payments problems triggered by the higher cost of imports.2 FY2008 was also a year of reform in the IMF, as the Executive Board moved ahead with measures that will enable the IMF to better meet the evolving needs of its member countries, keep pace with changes in the global economy and financial markets, and adjust to a reduced budgetary envelope.