Академический Документы
Профессиональный Документы
Культура Документы
International Financial Architecture 1nhancing Trans*arency and Accountability, 5trengthening 9omestic 0inancial 5ystem, <anaging @nternational 0inancial #risis' (a) 0nhancin1 2ransparency and Accounta3ility: The working grou* on trans*arency 6 accountability considered the contributions of trans*arency 6 accountability that can make im*rovements in economic *erformance as well as the nature of information needed for effective trans*arency 6 accountability' <embers attached *articular im*ortance to enhancing the relevance, reliability, com*arability 6 understandability of information disclosed by *vt sector' They recommended that *riority be given to com*liance with and enforcement of high quality accounting standards' There were consensus on the need to im*rove the coverage, frequency 6 timeliness with which data on foreign e/change reservesB e/ternal debt and financial sector soundness are *ublished' @t was recommended that consideration be given to com*iling 6 *ublishing data on international e/*osures of investment bank, hedge funds 6 other institutional investor Trans*arency is an im*ortance means of enhancing the *erformance and *ublic accountability of international financial institution' @t was recommended that @<0 *re*are a Trans*arency )e*ort summari.ing the e/tent to which an economy meets internationally recogni.ed disclosure standards' (3) 'tren1thenin1 the Financial 'yste s: The working grou* on strengthening financial systems sought consensus on *rinci*les and *olicies that foster the develo*ment of a stable, efficient financial system' <embers identified several areas such as #or*orate Aovernance, )isk <anagement including liquidity management" 6 5afety 7et arrangements, where standards of sound *ractices need to be enhanced or develo*ed' The re*ort outlines elements that such standards might contain 6 suggested ways forward' <embers em*hasi.ed that the im*lementation of sound *ractices is best fostered through market based incentives backed by official sector actions' The need for cor*oration 6 coordination among national su*ervisors and regulators 6 international grou*s 6 organi.ations are crucial to the strengthening of domestic financial systems' (c) (ana1in1 International Financial Crisis: The working grou* on the above e/amined *olicies that could hel* to *revent international financial crises and facilitate the orderly and coo*erative resolution of crises that may occur in the future' <embers stressed the need to encourage better management of risk by the *ublic and *rivate sectors and it was recommended to clarify, limit the sco*e of guarantees that governments offer' 1ffective insolvency and debtor- creditor regimes were identified as im*ortant means of limiting financial crises and facilitating ra*id and orderly workouts from e/cessive indebtedness' #ountries should make all efforts to meet the terms 6 conditions of all debt contracts in full and on time' 4nilateral sus*ensions of debt *ayments are inherently disru*tive' #ecture $otes ! "rof% &ahul 'hah ((): ) *91 9+,+- 7.7,/
The above meeting had various *artici*ating nations vi.' Argentina, Australia, -ra.il,
<alaysia, $a*an, @ndia, @<0, :orld -ank, >ong =ong, 5inga*ore, 5outh Africa, Thailand etc'