Commitment to ensuring the stability of the international financial market
Symbole de la mondialisation de la place financière suisse, la bourse nationale SIX Swiss Exchange est née de la fusion des bourses régionales de Zurich, Genève et Bâle. Son siège est à Zurich.© swissworld.org
A stable international financial system is vital for an open, export-driven economy like Switzerland‘s. This is why Switzerland has long been committed to ensuring the stability of the international financial market by actively participating in the work of international financial agencies and fora.
The most important fora for international financial stability issues are the International Monetary Fund (IMF) with its 188 member countries and the Financial Stability Board (FSB), whose members are 24 countries with important financial centres.
International Monetary Fund
Within the IMF, Switzerland heads up a constituency group that includes Poland, Serbia, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. Through its seat on the 24-member Executive Board, Switzerland participates in the innermost circle of the IMF. Since autumn 2008, the IMF has passed a whole series of financial aid packages which contributed to easing the current financial crisis. However, if the IMF is to continue tackling crises in the future, an expansion of IMF resources will be required. Switzerland is willing to show solidarity and participate in a concerted expansion of IMF resources.
Financial Stability Board
Membership of the Financial Stability Board gives Switzerland the possibility to participate in the dialogue among the most important financial centres in the world, and to share its experiences. The FSB is concerned with stability-related topics as well as questions of financial market regulation and supervision. Switzerland supports this work energetically, and is also engaged in related work of the Bank for International Settlements and in the international committees of the financial market supervisory authorities.