Against the backdrop of a global economic crisis, the IMFC has underscored the Fund’s central role in responding to its membership’s needs and restoring prosperity and financial stability. The Fund has acted with alacrity—by overhauling its lending framework; mobilizing strong support and firm pledges toward a tripling of its resources; and continuing to strengthen the quality of its surveillance. The Board has completed all of the main policy items in the November 2008 Work Program. The work program for the period until the 2009 Annual Meetings, which is comprehensively set out in Table 1, seeks to build on this progress, while advancing reforms in other key areas. In addition to these policies, we will have a full load of Article IV consultations, program reviews, and consideration of new programs. The work program is heavy, reflecting the responsibilities assigned to the Fund by the international community and the needs of our membership.