1  BIS Review 49/2000  One thing is certain, such efforts will be accompanied by difficulties, involving some disagreements on the international front, and it is incumbent upon us to try to find solutions. 3. Meaning of IMF reform  Against the background of such trends, the international monetary and financial system is burdened with further responsibilities.
In particular, the Asian currency crises brought to the fore various issues of concern to international financial circles including the prevention and resolution of future currency crises. And, the outcome of discussions constitutes part of the concept of the so-called “new financial architecture”.