IMF Managing Director Dominique Strauss-Kahn told policymakers from 186 countries gathered in Istanbul for the IMF/World Bank Group Annual Meetings that global cooperation had saved the world from a far worse crisis and leaders should now seize the opportunity to shape a post-crisis world.

He stated that barely a year ago, people feared the worst. But after concerted action to combat the crisis, the world had pulled back from the brink. “Even if it is much too early to declare victory, we have at least stepped onto the road to recovery.”

Mr. Strauss-Kahn also made a remarkable statement that: 'It no longer makes sense for global economic policy to be the concern of just a small group of countries” while promising that recent reforms at the IMF would carry all countries along to achieve and build a stronger and better post crisis world.