On March 26, 2025, the International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, initiated an advisory council on entrepreneurship and growth. This move is part of the IMF's strategy to support its 191 member nations in establishing favorable macroeconomic and financial conditions for robust and sustained economic expansion through productivity enhancements.
Georgieva highlighted the current economic challenges, stating, “The medium-term outlook for world economic growth is at its lowest in several decades. Much of the slowdown can be attributed to declining productivity growth.”
She further explained the purpose of the newly formed council: “The Council brings together a group of leading thinkers and practitioners in business, finance, academia, and policymaking to share their views and experiences on how macroeconomic and financial policies can provide a supportive environment for innovation, entrepreneurship, and productivity—key ingredients for a thriving private sector and strong economic growth.”
The Advisory Council will convene roughly every three months, adhering to Chatham House rules to maintain confidentiality during discussions. These meetings are designed to guide the IMF's research and policy development, which aims to bolster productivity growth and enhance medium-term economic prospects across its member states.