The question of whether capital controls should be part of the tool box for policymakers to deal with capital flows has become one of the central issues in the international economic policy debate. It was one of the key policy issues in the G20 under the French Presidency in 2011 and it has been covered extensively by the International Monetary Fund (IMF) and other international institutions and fora. However despite a G20 commitment to arrive at 'coherent conclusions' on capital flow management only limited progress has been made so far.