In short, we now have multiple layers of measures to cope with global financial crises, with IMF lending playing the central role, supplemented by regional financing arrangements and bilateral swap agreements.
Thanks to this enhancement of international financial architecture, together with the strengthening of financial regulations following the global financial crisis, it is fair to say that the resilience of the global economy and financial system has been increased. Nevertheless, it is important to remain vigilant as global financial and economic conditions continue to evolve dramatically.