What we chiefly need, in my view, is more, and more up-to-date, data on countries’ foreign currency debt. This is a challenge addressed to borrowers and lenders alike. BIS Review 42/1998  -5-  The IMF should endeavour to obtain more, and above all better, data especially from the debtor countries.
For the markets’ ability to function, it is essential that the business data collected should be more transparent, more complete and more up-to-date. It is only on this basis that the IMF can perform its primarily catalytic task. That strengthens the structure of the international financial system.