How Did Emerging Markets Cope in the Crisis?

The IMF Executive Board has been considering reforms to strengthen the Fund’s mandate to better equip the institution to safeguard global stability.
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Volume/Issue: Volume 2010 Issue 064
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Banks and Banking , Inflation , Economics- Macroeconomics , Public Finance , PP , fiscal policy , vulnerability EMs , credit boom , real GDP , policy rate , money market , EM recovery , EM assets , capital account , fiscal policy response , headline inflation , EM response , crisis policy fundamental , Central bank policy rate , Exchange rate arrangements , Inflation , Global , Europe , Western Hemisphere

Summary

The IMF Executive Board has been considering reforms to strengthen the Fund’s mandate to better equip the institution to safeguard global stability. Executive Directors have supported a range of reforms to modernize the Fund’s surveillance mandate and modalities. This paper focuses on selected aspects of these reforms where further work was called for, including on a possible multilateral surveillance decision and proposals to enhance the traction and flexibility of bilateral surveillance.