To these ends, an action plan for reducing the global imbalances has taken shape under the aegis of the G20, including the setting of indicative guidelines for current account balances and going so far as discussion of proposals to reform the international monetary system.
What is more, on the basis of the discussions so far, all-out reforms are currently underway of financial systems and their regulatory and supervisory frameworks, the evolution of which had since the 1980s been based on financial liberalization as a core value.