Lecture and Discussion
Towards a more stable international monetary system
February 10, 2011, Washington D.C.
In the wake of the crisis, efforts to reform the international monetary system have intensified.
The issues to address are multi-faceted and wide-ranging, including persistent imbalances and talk of currency wars, large and volatile capital flows, uncertain access to international liquidity in times of crisis, and lack of diversity in the supply of global reserves. The IMF is engaging actively in these areas, with particular emphasis on strengthening its own surveillance of countries’ economic policies and their spillovers, providing input to the G-20’s Mutual Assessment Process, advising members on dealing with capital flows, strengthening the global financial safety net, and exploring avenues to reform the global reserve system. The IMF recently published a paper on the role of the Fund in managing cross border capital flows and will be publishing a paper on the potential contribution of the SDR to enhancing the stability of the international monetary system on February 10.
The event will discuss what changes are needed to make the international monetary system more resilient before the next crisis hits, and the role of the IMF in this regard.
Towards a more stable international monetary system
February 10, 2011, Washington D.C.
In the wake of the crisis, efforts to reform the international monetary system have intensified.
The issues to address are multi-faceted and wide-ranging, including persistent imbalances and talk of currency wars, large and volatile capital flows, uncertain access to international liquidity in times of crisis, and lack of diversity in the supply of global reserves. The IMF is engaging actively in these areas, with particular emphasis on strengthening its own surveillance of countries’ economic policies and their spillovers, providing input to the G-20’s Mutual Assessment Process, advising members on dealing with capital flows, strengthening the global financial safety net, and exploring avenues to reform the global reserve system. The IMF recently published a paper on the role of the Fund in managing cross border capital flows and will be publishing a paper on the potential contribution of the SDR to enhancing the stability of the international monetary system on February 10.
The event will discuss what changes are needed to make the international monetary system more resilient before the next crisis hits, and the role of the IMF in this regard.