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Rebuilding the International Financial Architecture

October 1, 2001

The main aim of the Group has been to address the international financial architecture. In consequence, our Report focuses on international financial issues rather than domestic policy reform. Where we do discuss national policies, it is mainly in the context of the international norms or actions that constrain government actions. This focus in no way implies that emerging market governments have no responsibility for instability: in many cases there is still much to be achieved before sound fiscal, monetary and regulatory positions are reached. However, there is clearly an incomplete international agenda to which this Group attempts to contribute.

In the light of these considerations, the Report makes a total of thirty-three recommendations for the consideration of the international policy-making community, which relate to the eight topics that constitute its separate chapters.

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