"Cooperation among governments is urgently required to deal with the financial crisis catalysed by the collapse of the US sub-prime mortgage market, immediate threats posed by fragile and collapsing states, climate change and a more inclusive globalisation. In principle, the IMF and World Bank are ideally placed to play a key role. They sit at the heart of intergovernmental cooperation: conducting consultations on exchange rate policy; lending to countries in financial crisis; providing assistance after conflict and natural disasters; and setting standards, offering advice and providing development assistance." (Quoted from paper)