The Managing Director's Position on IEO Recommendations
|(i) Management should work with the IMFC to ensure that the IMF has sufficient resources to contribute to future crisis resolution. Quotas should be sufficient to cover members’ needs under likely crisis scenarios, with borrowing arrangements set up to deal with tail risks.||Support|
|(ii) The IMF should develop guidelines for structuring engagements with other organizations, whether as a member or a partner. These guidelines should clarify the IMF’s roles and accountabilities in order to protect the institution’s independence and to ensure uniform treatment of all members.||Qualified Support|
|(iii) Management needs to consolidate and simplify the current framework to identify and assess risks and vulnerabilities. In particular, the EWE needs to be made more user-friendly, it should foster greater debate and input by participants, and outreach on its results should aim to reach authorities.||Qualified Support|
|(iv) FSAPs for the world’s five to seven largest systemic financial centers should be updated annually in conjunction with IMF’s bilateral surveillance. 1/||No Support|
FSAP updates will result in updated Financial Sector Stability Assessments (FSSAs).