Summary: 13 January 2009, Brussels - The President of the European Commission, Mr. José Manuel Barroso, and Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), signed today in Brussels the new Framework Agreement between the two Institutions.
The Framework Agreement is an important tool for collaboration on technical assistance that both institutions provide globally. Its importance is substantially due to the fact that it facilitates the conclusion of trust fund agreements by solving administrative issues and providing a user-friendly contract template.
Both Institutions will be able to work jointly for promoting global economic cooperation, especially about technical assistance and training activities provided by the IMF and related to financial sector stability, macroeconomic, fiscal, monetary and exchange rate policies, and in the enhancement of macroeconomic and financial statistics. The Framework Agreement will apply to programmes and actions administered by the IMF and financed or co-financed by the European Commission.
Finally, this Framework Agreement is completely in line with the Paris Declaration on Aid Effectiveness and with the new provisions of the European commission Financial Regulation entered into force on May 2007.
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