It is the natural institution where national authorities can work with expert staff to assess spillover effects of domestic policies. And it would be tremendously helpful to the global economy if the Fund were to return to its original role of serving as a table for discussion.
It revolves around a simple rule: evolve or risk being irrelevant. In the last decade, we have witnessed how technology has dramatically advanced our day-to-day lives. We have also seen how the financial services industry has evolved to offer more customer-centric financial products, leveraging on emerging technologies, such as artificial intelligence, machine learning, and robotics, among others. The pandemic has further quickened this evolution.