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Transcript: REMARKS BY ACTING UNDER SECRETARY FOR INTERNATIONAL AFFAIRS CLAY LOWERY ON SOVEREIGN WEALTH FUNDS AND THE INTERNATIONAL FINANCIAL SYSTEM
- Article from:
- Regulatory Intelligence Data
- Article date:
- June 21, 2007
- Author:
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INDSTRY GROUP 91
Regulatory Intelligence Data
06-21-2007
San Francisco--The financial crisis that struck East Asia ten years ago
had many causes - fixed but adjustable exchange rate regimes, balance sheet
mismatches in the financial and corporate sectors, and inadequate financial
sector regulation and supervision, among others. Ultimately these causes
manifested themselves in large-scale capital outflows and insufficient
official foreign exchange reserves. At the time, a number of working groups
were established to address issues coming out of that crisis. One group
recommended that the international community - largely led by the IMF -
improve the coverage, frequency, and timeliness of data on ...