Working Group on Capital Flows

 

This is the report of the working group established in April 1999, under the chairmanship of Mr M Draghi, Director General, Ministry of the Treasury, Italy.

Its mandate was to:

• evaluate policies and practices for reducing the risks associated with the build-up of short-term external indebtedness;

• identify sources of unwarranted bias in favour of short-term capital flows;

• recommend improvements to the adequacy and timeliness of capital flow data; and

• evaluate other measures to reduce the volatility of capital flows.

 

The report markes detailed recommendations with respect to:

• risk management by financial authorities and institutions;

• transparency and better disclosure of information; and

• improved availability and quality of data.