The International Financial Architecture Working Group (IFA) was established following the 2008/2009 global financial crisis. Over the years, it has discussed policies to promote a more stable, resilient and balanced international financial architecture. The group played a key role in approving the 2010 International Monetary Fund (IMF) quota and governance reform, during the Korean presidency. It also played an important role in addressing the euro area crisis in 2011, during the French presidency.