IMF head optimistic on markets, outlook
IMF head Dominique Strauss-Kahn said today he was more optimistic about the global financial crisis now that some calm is returning to markets after action to halt the slide by US and European governments.
By Agencies |
PARIS: IMF head Dominique Strauss-Kahn said today he was more optimistic about the global financial crisis now that some calm is returning to markets after action to halt the slide by US and European governments.
"If the extreme volatility of the markets shows that the financial crisis continues to have an impact I hope very much that this volatility will calm because the US and European (stability) programmes are solid," Strauss-Kahn told Le Monde daily today.
"They just need a little time to get going full speed," he added.
The IMF managing director has previously warned of the possible adverse impact the financial crisis will have on the developing world and repeated that he remained "pre-occupied" by this issue.
"I have been insistent in saying that there is another crisis behind the financial crisis, that in the poorer countries, hit full-on by the rise in food in raw material prices," he said.
"In developed countries, the crisis means a fall in purchasing power. In the weakest (countries), it means the risk of famine for some, malnutrition for many and consequences for a whole generation."
Strauss-Kahn also said that he would propose five avenues to reform the global financial system, with the IMF reasserting a regulating role, when the G20 countries meet in two weeks' time in Washington on the crisis.
He said he expected the meeting of Group of 20 leading economic countries on November 15 to take full account of "the historic situation we are living through."
"If the extreme volatility of the markets shows that the financial crisis continues to have an impact I hope very much that this volatility will calm because the US and European (stability) programmes are solid," Strauss-Kahn told Le Monde daily today.
"They just need a little time to get going full speed," he added.
The IMF managing director has previously warned of the possible adverse impact the financial crisis will have on the developing world and repeated that he remained "pre-occupied" by this issue.
"I have been insistent in saying that there is another crisis behind the financial crisis, that in the poorer countries, hit full-on by the rise in food in raw material prices," he said.
"In developed countries, the crisis means a fall in purchasing power. In the weakest (countries), it means the risk of famine for some, malnutrition for many and consequences for a whole generation."
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Strauss-Kahn also said that he would propose five avenues to reform the global financial system, with the IMF reasserting a regulating role, when the G20 countries meet in two weeks' time in Washington on the crisis.
He said he expected the meeting of Group of 20 leading economic countries on November 15 to take full account of "the historic situation we are living through."
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