The IMF has begun implementing a new approach to financing its technical assistance by creating a series of topical trust funds that bring together interested donors. The idea behind the new topical trust funds is to support broader initiatives on policy topics and engage donors on a broader, longer-term, and more strategic basis.
Regional technical assistance centers have gradually evolved to play a major role in IMF technical assistance. These centers, which are largely donor financed, have become important vehicles for helping countries carry out economic reforms. Their objective is to assist countries in designing and implementing their poverty reduction and broader developmental strategies and help countries integrate into the world economy.
The emergence of successive waves of new growth drivers not only benefits Asia, through the creation of trade and investment linkages and greater Asian integration, the formation of North-South economic linkages means wider benefits accrue.
Technical assistance in the IMF’s areas of core expertise is not only an important complement to the IMF’s policy advice in many countries but also helps them pursue their broader developmental and poverty reduction strategies by strengthening their capacity in macroeconomic management.
The IMF has initiated a public consultation with various stakeholders, including governments, private sector, academia, think tanks, non-governmental and civil society organizations, and the wider public on the role of the International Monetary Fund.
IMF Managing Director Dominique Strauss-Kahn assesses progress in Africa and pulls together some common themes from his visit to Kenya, South Africa, and Zambia.
South Africa has long been seen as the growth hub in the south and eastern part of the continent. But this past year, as a member of the G-20 group of nations, South Africa has come to be seen as much more--an emerging market and now also an influence on how global decisions are shaped. This is a new role for Africa in the world—and a new way for Africa to be seen by the world.
In the wake of the global financial crisis, there is a fresh energy in Sub-Saharan Africa--and a broad consensus on the road ahead. Above all, there is the strong sense that Africa's destiny will be driven by Africans, not by others.
At a conference in Tanzania a year ago, the IMF committed to improving its policies and operational approaches in Africa and pledged to ensure Africa’s concerns would be taken into account during the meetings of the Group of Twenty (G-20) industrialized and emerging market countries and be an advocate for Africa. Now, IMF Managing Director Dominique Strauss-Kahn, on a visit Kenya, South Africa, and Zambia--his third trip to the region in the past 12 months--presents the scorecard of how the IMF has delivered on its promises to the continent.