IMF, World Bank to unveil joint strategy for poor countries

John Lipsky, IMF first deputy managing director, said the Fund's role in low-income countries, which has drawn controversy in recent years, will be formalized in a Joint Bank-Fund Management Action Plan that will be unveiled ahead of the two institutions' annual meetings next month.

"This plan is intended to help insure that the efforts of these key institutions remain well-coordinated and consistent, while leveraging each institution's resources effectively," Lipsky said in a speech at an event organized at IMF headquarters by Oxfam International, a leading anti-poverty nongovernmental organization.