The IMF should stand ready to provide necessary liquidity support. At the same time, efforts should be made to strengthen financial resilience, reduce leverage, and mitigate financial risks, so as to safeguard financial stability.
Emerging market and developing countries should take steps to control contingent liabilities and balance sheet mismatches, curb financial market risks, monitor foreign currency debt exposures, and enhance resilience to financial tightening, capital outflows and commodity price volatility. 1/4  BIS central bankers' speeches  II.