Speeches
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30 March 2006 The Evolving International Monetary Order and the Need for an Evolving IMF
The world needs an international institution to promote a new monetary order—a well-functioning, market-based global financial system. This will be the subject of my remarks today. -
29 March 2006 Global Imbalances: Why Worry? What to Do?
These imbalances reflect the financial flows associated with mismatches in savings and investment on a global scale. Since the late 1990s, many economies outside the United States have increased their net national savings. -
9 March 2006 Renewing the IMF: Some Lessons from Modern Central Banking
As economies have become more interconnected through trade and financial flows in a truly global marketplace, economic developments in one location can quickly have repercussions on the other side of the globe. In 1997, what began as a currency devaluation in Thailand became a crisis with repercussions not just in Asia, but in countries as far away as Russia, Brazil, and Canada.