Crisis prevention starts at the national level. With this in mind, the international community has engaged in an intensive global effort to help emerging markets reduce their vulnerability to crisis.
Disclosure is the foundation of any well-functioning financial system.
More effective crisis response. The institutions at the core of the international financial system are now equipped with instruments to respond quickly and effectively to impending crises in a manner that reduces moral hazard and helps restore the flow of private capital. Appropriate private sector involvement. Rapid restoration of private capital flows is a crucial ingredient of successful crisis response in today's global economy. Operational guidelines articulated in April will guide efforts going forward.