As part of this project, experts exchanged knowledge and experience on issues such as forecasting tools for bank reserves, risk management processes and the cash operations strategy. I believe that such cooperation helps in itself to create a family spirit among the central banks. It forms a good example of what such cooperation can achieve in mobilising our vast amount of knowledge and expertise.
Moreover, it has to be further clarified whether an incorporation of Capital Flow Management into the surveillance mandate of the International Monetary Fund could contribute to better outcomes on the global level. As Jaques De Larosière recently highlighted: An international monetary system worthy of the name should ensure that national interests and measures lead to globally stable solutions.