IIF proposes eight-point reform programme to strengthen the global financial system

Dallara addressed the need for new approaches by market participants and national authorities, as well as by the IMF. He noted that abundant liquidity in the markets has contributed to diminished market discipline, while providing fewer incentives for some authorities to reinforce policies or take tough reform decisions. He also noted that lending by the IMF has diminished and important questions have been raised recently regarding the role of the Fund in today's globalised environment. He c