Reform of the International Monetary and Financial System

Our Financial Stability Papers are designed to develop new insights into risk management, to promote risk reduction policies, to improve financial crisis management planning or to report on aspects of our systemic financial stability work.
Published on 12 December 2011

Financial Stability Paper No. 13
By Oliver Bush, Katie Farrant and Michelle Wright

The financial crisis has imposed large costs on the global economy and revealed deficiencies in policy frameworks around the world. While the ongoing reforms to financial regulation aim to make the financial system more resilient, they cannot eliminate all the risks associated with large global capital flows. This paper argues that broader reforms to the International Monetary and Financial System (IMFS) are also required.

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