The global economy is undergoing a profound transformation, with major changes in the international frameworks that have long underpinned it. Sweeping policy shifts across many areas are reshaping economies and testing their resilience. As countries navigate this transformation, the priorities are to preserve macroeconomic and financial stability and to work together to ensure the smooth functioning of the global economy. The IMF stands ready to support them through tailored policy advice, capacity development, and financing when necessary. Guided by the medium-term direction outlined in the Spring 2025 Global Policy Agenda, the IMF is modernizing policy frameworks and internal processes to remain an agile and focused institution that responds to the evolving needs of members, now and over the medium and long term.