How does technology help the IMF meet the changing needs of member countries in an evolving world economy?
The IMF has a clear strategy for responding to the changing environment, in particular to the challenges of globalization. It’s called the Medium-Term Strategy or MTS. Technology plays a strong role in supporting this strategy. For example, since one of the requirements of the MTS is enhancing the IMF advice on financial and capital markets, we are assisting in developing new financial models for assessing risk. We are also working on reducing e-mail overload and maintaining the Fund’s efficiency, and several other aspects related to the MTS. In brief, IT helps us in meeting up with the challenge of globalization. The IMF has been established to promote international monetary cooperation and exchange rate stability. What are the mechanisms in place to help the IMF meet its goal? How strategic is IT in meeting these objectives? All our processes are completely enabled by IT and technology. IT has been integrated in all the core activities of the IMF, which include surveillance, financia
