BIS Review 17/2006  3  Markets should also play a greater role in crisis resolution. The Fund has been accused of doing too much "exceptional lending." Indeed, in some cases, this lending has delayed the needed actions and adjustments. Essentially, both sovereign borrowers and creditors wait to see if the Fund will put new money on the table.
In that vein, as I offer some remarks about the period ahead, I will also draw on those conclusions from recent history that seem pertinent. In so doing I shall be reiterating some themes I have touched on before, including at earlier lunches in this series.