KEI G-20 Series: Financial Safety Nets

As the recent global crisis, as well as the Asian financial crisis of the late 1990s, demonstrated, volatile capital flows pose significant risks to emerging and developing countries. At the recent meeting of finance ministers and central bankers in Korea, there was strong support for placing the issue of developing a financial safety net for emerging and developing economies on the G-20 agenda. The current proposal envisions a combination of regional initiatives and financial support from the IMF. Please join KEI for a discussion of why the issue of financial safety nets is a pressing one for the maintenance of the global financial architecture, how the G-20 and IMF handled the issue during the recent crisis, and what proposals might be developed for the G-20 summit in Seoul this November. Director General Choi Heenam of the Ministry of Strategy and Finance in Korea will also provide insight into the perspective of the Republic of Korea, the current chair of the G-20, on this issue.