## Press Release: IMF Hosts Conference on “Managing Capital Flows: Lessons from Emerging Markets for Frontier Economies” in Mauritius

_IMF News, March 3, 2015_

## Source details

**Canonical URL:** [Press Release: IMF Hosts Conference on “Managing Capital Flows: Lessons from Emerging Markets for Frontier Economies” in Mauritius](https://www.imf.org/en/news/articles/2015/09/14/01/49/pr1593)

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## Bibliographic details
- Published: March 3, 2015

---

### Event details
- Press Release No. 15/93
- Date: March 03, 2015
- Location: Balaclava, Turtle Bay, Mauritius
- Event date: March 2, 2015
- Organized by: The International Monetary Fund (IMF)
- Opening speakers: The Hon. Seetanah Lutchmeenaraidoo, Minister of Finance and Economic Development of Mauritius; David Lipton, First Deputy Managing Director of the IMF
- Keynote address: Princeton Professor Dani Rodrik, Institute for Advanced Study, Princeton
- Media Relations contact: E-mail: media@imf.org; Phone: 202-623-7100

### Purpose and context
- Provide a forum for policy makers from emerging and frontier markets to share experiences in managing capital flows.
- Facilitate discussions about policy options to maximize benefits of foreign capital while minimizing risks associated with inflow surges.
- Context: rising volatility of cross-border capital flows.

### Key findings and consensus from participants
- Capital flows to frontier and emerging market countries are generally beneficial, and provide an important source of financing for investments.
- Large capital inflows (and potential reversals) can pose macroeconomic challenges and financial-stability risks.

### Policy options and recommendations discussed
- Maintain fiscal discipline and ensure debt sustainability.
- Allow the currency to appreciate to the extent that it does not become overvalued.
- Deploy a host of policy tools, including:
  - Monetary policy geared to meeting the inflation target.
  - Foreign exchange intervention in the face of currency appreciation pressures, provided:
    - the costs of sterilization are manageable, and
    - the credibility of the monetary policy framework is not jeopardized.
  - Macroprudential measures.
  - In some circumstances, capital controls.

### Participants
- Speakers included policy makers and senior officials from: Bangladesh, Ghana, India, Kenya, Mauritius, Nigeria, South Africa, Uganda and Zambia.
- Also in attendance: distinguished academics, market participants, and senior officials from a number of frontier and emerging market countries.

*Press Release No. 15/93, March 03, 2015.*

---


## References

- [Mauritius and the IMF](http://www.imf.org/external/country/MUS/index.htm)
- [Bangladesh and the IMF](http://www.imf.org/external/country/BGD/index.htm)
- [Ghana and the IMF](http://www.imf.org/external/country/GHA/index.htm)
- [India and the IMF](http://www.imf.org/external/country/IND/index.htm)
- [Kenya and the IMF](http://www.imf.org/external/country/KEN/index.htm)
- [Nigeria and the IMF](http://www.imf.org/external/country/NGA/index.htm)
- [South Africa and the IMF](http://www.imf.org/external/country/ZAF/index.htm)
- [Uganda and the IMF](http://www.imf.org/external/country/UGA/index.htm)
- [Zambia and the IMF](http://www.imf.org/external/country/ZMB/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr1593_