IMF creates International Capital Markets Department

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On March 1, 2001, the IMF announced it would establish a new department to enhance its surveillance, crisis prevention, and crisis management activities. The new International Capital Markets Department, which became operational in June 2001, consolidates activities and operations that had been spread among three departments: Policy Development and Review,Monetary and Exchange Affairs, and Research. It also serves as liaison with the institutions that supply or intermediate the bulk of private capital worldwide.

The International Capital Markets Department is one of the IMF's initiatives to strengthen the international financial architecture and, in particular, to strengthen the IMF's role in preventing financial crises. Its purposes are to * deepen the IMF's understanding of capital market operations and of the forces driving the supply of...