27 Feb.
The IMF wants more power to police the global financial system and a bigger role in emergency financing, managing director Dominique Strauss-Kahn said Friday.
The IMF is seeking to sharpen its tools to detect potentially dangerous system risks and provide a rapid response to cash flow problems, Strauss-Kahn said in a speech to the Bretton Woods Committee, a think tank in Washington.
“There may be a need for a clearer mandate to pursue risks for global economic stability, but also – I stress – for financial stability,” he said.
“During the crisis, the Fund proved its worth to the world.”
But Strauss-Kahn said that as the world slowly emerges from the worst financial crisis since the Great Depression, “we must build on this positive momentum: to transform the Fund into an institution even better equipped to meet the challenges of the post-crisis era.”
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27 Feb.
