THE INTERNATIONAL MONETARY AND FINANCIAL SYSTEM – SHORT TERM CHALLENGES, LONG-TERM SOLUTIONS

Organized in collaboration with the Central Bank of the Republic of Turkey and the Bank of England, this workshop aims to provide a forum for policy makers and academics to share their experiences to mitigate the risks that the International Monetary and Financial System (IMFS) face. In that regard, the workshop discusses the latest research findings and policy recommendations to put the IMFS on a permanently firmer footing.

In this context, an indicative set of questions that are going to be discussed are:

• What are the main challenges currently facing the IMFS?
• What might be the impact of ongoing changes in international regulatory policy on cross border capital flows?
• What roles do the global safety net and its various components play? Which ways could it be strengthened?
• Do the benefits from openness to capital flows outweigh the potential costs? Are capital flows in the form of equity rather than debt more stabilising for the global financial system?

What will be the impact on global capital flows as advanced country monetary policies diverge? Are global current account imbalances dead or alive?