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March 9, 2006

Renewing the IMF: Some Lessons from Modern Central Banking

Remarks Tiff Macklem Global Interdependence Center Philadelphia, Pennsylvania
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.
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