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Table of Contents

1. Introduction

2. Improving Transparency, Accountability, and Openness

3. Strengthening Surveillance and Crisis Prevention
   1. Making Surveillance More Effective
          Focus and quality of surveillance
          Enhancing the impact of the Fund's policy advice
   2. Strengthening Institutional Capacity
          Standards and Codes
          Data provision
          Technical assistance
   3. Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT)

4. Enhancing Crisis Resolution
   1. Enhancing the Fund's Capacity to Respond to Crises
          Improving sustainability analysis
          Access policy in capital account crises cases
          Improving Fund facilities
          Lending into arrears
   2. Strengthen the Legal Framework for Sovereign Debt Restructuring
          Collective Action Clauses (CACs)
          Sovereign Debt Restructuring Mechanism (SDRM)

5. Strengthening the Fund's Support to Low Income Countries
   1. The PRSP Approach
   2. The HIPC Initiative
   3. Advocating Aid and Trade and Monitoring Progress

6. Safeguarding the Cooperative Nature of the Fund
   1. The Adequacy of Fund Resources
   2. Quota Shares and Representation
   3. Effectiveness of the Executive Board and Selection of the Managing Director

7. Conclusion

Text Tables

1. ROSC Modules Published
2. Comparative Participation in Transparency and Standards and Codes Initiatives