IMF roles up it's sleeves?

http://uk.news.yahoo.com/afp/20070618/tbs-imf-economy-forex-5268574.html

So the bankers will be looking at whether a member’s policies of exchange-rate manipulation are a risk to external stability. There must be at least one member desperately thinking of excuses and diversions at this point, while everybody else will be thinking ‘how could this effect me?’