Avoiding Global Meltdown: How the IMF Lost Battles but Won the War
Listener: 22 October, 2005.
Keywords: Macroeconomics & Money;
Monetary activity is dominated by capital flows. Its interaction with the trade of goods and services may seem marginal, but a financial crisis in the monetary system threatens the payments system, and could lead to a depression. This is especially true internationally because of the foreign exchange requirements of trade.