Reforming the International Monetary and Financial System

The IMF's Research Department convened a conference in 1999 to discuss the key issues of international monetary and financial reform. It followed a period of turbulence in the worlds financial markets when a succession of crises had caused severe output loses in many emerging market economies. The need was to look at the architecture of the international financial system whilst the impetus for reform was still fresh. The main sections of the publication are : key issues of reform; maintaining stability under high capital mobility; the role of the International Monetary Fund.