5  Economic Outlook, OECD, November 2015. 6  Capital Flows to Emerging Markets, IIF, October 2015. BIS central bankers’ speeches  3  Despite the weakness and uncertainties that exist in the outlook for advanced economies, developments in emerging markets are likely to prove crucial for the global economy in 2016.
It is now important to strike the appropriate balance between alleviating shortterm needs and longer term development goals and achieve an effective division of tasks in the international donor community. The recent financial turmoil puts an extra premium on the role of both Bretton Woods institutions as providers of financial and advisory services, and as facilitators of international dialogue.