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Enact reforms to counter fickle capital flows: IMF

Tharman also warns of continuing herd-like behaviour in markets

[WASHINGTON] Increasingly fickle capital flows mean that countries have to implement domestic reforms to protect their stability, the International Monetary Fund's powerful advisory board said on Saturday.

After many emerging economies were hobbled by sharp capital outflows over the past year, the IMF's steering committee, the International Monetary and Financial Committee (IMFC), said that more volatility was to come, especially as the US tightens monetary policy.

IMFC chairman Tharman Shanmugaratnam...

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