More related to substance than to procedures, let me also mention the recent reform of the Fund’s framework for surveillance, which should help to strengthen this important part of the IMF’s mandate given the current climate of reduced IMF lending. Before moving on from important changes in the institutional set-up of the international system, I would like to highlight the Financial Stability Forum (FSF).
This is another question that would benefit from concerted attention at the international level. Good progress is already being made on issues related to international taxation to avoid base erosion and profit shifting.23  Policy-makers need to dig in This brings me to my final point. Policy-makers need to dig in and be proactive.