One reason is that they are small compared to the financial system as a whole. The market capitalisation of VCs was USD 432 billion in early 2018, about 1.5% of the market capitalisation of the S&P500. But the significant rise in the market valuation of VCs we saw prior to December 2017 calls for caution.
The prevailing hybrid system of exchange rates could not clear the current account and imbalances continue to persist. The good news is that IMF surveillance proved to be invaluable in the case of deficit developing countries. Since the late 1980s, we have introduced several key structural reforms in Jordan based on IMF surveillance and IMF consultations.