Fed's Geithner on emerging market economies

- Central Banking staff
- 06 Oct 2006

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In the speech 'Progress toward financial stability in emerging market economies' given on 4 October Timothy Geithner of the Federal Reserve Bank of New York said over a decade of reforms in developing countries have made them much less vulnerable to the sorts of crises they faced in the 1990s.

Geithner said in remarks at Johns Hopkins University in Washington that shifts toward more flexible exchange rates and more cautious fiscal policies underpinned those improvements.

"The direction of change

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