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.