IMF's Rato on capital flows
In a speech given on 28 July Rodrigo de Rato, managing director of the International Monetary Fund, said that imposing direct limits or controls on capital inflows sets central banks and private financial institutions against each other.
Speaking at a conference in Thailand, he said "And since private institutions are generally imaginative and well resourced, they generally find ways around the restrictions, often very quickly."
Discussing the role of Asian economies in global capital markets, he
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