It is close to a decade since the start of the global financial crisis that raised many critical questions. Among these are how the international monetary system monitors, regulates, and manages the volatility of global liquidity and the consequent risks for international financial stability. The International Monetary Fund (IMF) is also now discussing a road map for strengthening the international monetary system and better managing liquidity shocks.
http://www.brookings.edu/blogs/future-development/posts/2016/04/19-reforming-international-monetary-system-singh
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