In addition to lessons in the 1999 paper relating to the Fund, it is clear from the conclusions presented in F5 (Keynesianism), F6 (bank and debt restructuring) and F7 (exchange rates) that the Fund had drawn the correct critical lessons on several of the central issues of economic policy.
It is also clear from F8 that we were surprised – pleasantly so – that despite the pessimism of many that the Asian crisis spelled the beginning of the end of globalization, we had already concluded that very few countries, if any, intended to withdraw from the international economic system.