The International Monetary Fund published the transcript of an International Monetary and Financial Committee (IMFC) Spring Meetings press briefing in which members reported unanimous adoption of the Diriyah Guiding Principles alongside IMF quota and governance reforms, and the IMF confirmed it will resume relations with Venezuela after a seven-year pause. The Diriyah Principles are positioned to increase transparency and fairness in negotiating members’ contributions in future quota reviews, including by calling for an open, inclusive, merit-based and transparent process for selecting the Managing Director and by protecting the quotas and voting shares of low-income countries, with reforms also aimed at ensuring regional balance on the IMF Executive Board. The briefing also set out the IMF’s preparedness for spillovers from the Middle East conflict, including an indicative USD 20 billion to USD 50 billion range for potential support through new financing or augmentation of existing programs, with discussions over the week touching on about a dozen potential new programs and five to eight possible augmentations, while maintaining World Economic Outlook scenarios including a most optimistic case in which global growth slows to 3.1 percent; members were also urged to provide financial assurances to fully fund the Poverty Reduction and Growth Trust. Next steps flagged in the briefing included coordinating with partners, with plans to meet the World Bank the following week to align approaches, noting the World Bank’s stated preparation for up to USD 25 billion in liquidity support. For Venezuela, the IMF reported ongoing low-level technical contacts and said initial priorities for re-engagement would be improving data adequacy and providing capacity development, with a potential financing program envisaged if a policy path can be agreed.
International Monetary Fund 2026-04-17
International Monetary Fund International Monetary and Financial Committee adopts Diriyah Guiding Principles and quota and governance reforms
The IMF’s International Monetary and Financial Committee unanimously adopted the Diriyah Guiding Principles alongside quota and governance reforms and confirmed the Fund will resume relations with Venezuela after a seven-year pause. The principles aim to increase transparency and fairness in quota reviews, protect low-income countries’ quotas and voting shares, and ensure an open, inclusive, merit-based process for selecting the Managing Director. The IMF outlined preparedness for spillovers from the Middle East conflict and urged members to fully fund the Poverty Reduction and Growth Trust. It also highlighted coordination with the World Bank on crisis response and said initial priorities for re-engagement with Venezuela include improving data adequacy and capacity development, with possible financing contingent on an agreed policy path.