There are uncertainties about the magnitudes of the main risks arising from the global credit crunch, and a negative feed-back loop from the financial sector and the real economy in developed economies.
Members participating in the multilateral borrowing arrangements with the Fund should have the option of earmarking a portion of their lending for assistance to low income countries. Vigorous efforts to increase donor contributions to the subsidy resources should be pursued. Governance Governance continues to be critical to the legitimacy, credibility and effectiveness of the Fund.