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2010-08-07

What effective rules to govern the Chiang Mai Initiative?

Comments on Joel Rathus “Are the Philippines equal before the Chiang Mai Initiative?” 6/08/2010, http://www.eastasiaforum.org/2010/08/06/are-the-philippines-equal-before-the-chiang-mai-initiative/
I am not familiar with the rules of IMF or CMIM.

But surely, when emergence occurs in a country, there should be some emergence rules, in addition to the normal rules of those multipliers.

It seems there should be some autonomous as well as emergent rules. The emergent rules may require a more stringent approval mechanism.

It should be practical and flexible to be most effective and helpful to members.

Otherwise, the fund would not be very helpful.

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