ROUND TABLE IV: Reform of the International Financial System

A discussion of the issue of the reform of the international financial system, part of the International Conference held in Geneva, 30-30 March 2001.

Olivier Cassard, March 2001

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Summary :

The discussion looks at the reform of the international financial system, an issue that has taken on great importance over the last few years, particularly in the wake of the financial crisis in Asia. It is generally agreed that we have seen a multiplication of these financial crises over the last two decades, their deep impact on the economies of countries often lacking the means to withstand them, and the incapacity of the international financial institutions to effectively anticipate and manage these crises.However, some interesting proposals exist. The discussion defines three areas of action: the prevention of financial crises, the management of the crises, and the reform of the international financial institutions.