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The International Perspective Reform of Financial Sector Regulation and

The International Perspective Reform of Financial Sector Regulation and International Collaboration Odd Per Brekk Senior Resident Representative September 2, 2010. Three Questions. What has been special about the current global financial crisis ?

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The International Perspective Reform of Financial Sector Regulation and

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  1. The International Perspective Reform of Financial Sector Regulation and International Collaboration Odd Per Brekk Senior Resident Representative September 2, 2010

  2. Three Questions • What has been special about the current global financial crisis ? • What are the key themes of the international work on the financial sector side? • What is the role of international collaboration, and specifically of the IMF, in this work ?

  3. Global Economic Developments and Outlook Real GDP Growth (percent change from a year earlier) Emerging economies World Advanced economies 2000 02 04 06 08 10

  4. Fiscal Risks Have Increased In Advanced Economies Aging-Related Spending in G20 Advanced Economies (percent of GDP) Public Debt (percent of GDP) Advanced economies Emerging and Developing economies 1995 2000 05 10 15

  5. Key Economic Policy Challenges • Address sovereign credit risks • Support credit growth and smooth deleveraging • Establish basis for a safer, competitive, and vital financial system • Address financial and monetary stability risks associated with international capital flows

  6. Key Themes of the International Work on the Financial Sector • Micro-prudential policies • Macro-prudential policies • Cross-border banking supervision and resolution frameworks • Monetary policy frameworks

  7. Global Economic Cooperation: Institutional Changes • Shift from G8 (or G7) to G20 • The G20 process • The role of the IMF • Crisis prevention • Crisis resolution

  8. Thank you

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