This global system—the exchange rate and capital accounts as well as the institutions and rules that govern them—affects everyone and is critical to our shared prosperity. The investments we have made collectively to strengthen the system have allowed us to clear some hurdles.
But we need a system that better balances the immediate imperatives of the short run with the important building blocks for longer-run prosperity. That’s what I want to talk about today. We aspire to an international monetary and financial system that favours inclusive and sustainable growth.