March 30, 2006
Speeches and appearances
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March 29, 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. -
March 9, 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.