IMF stresses on cleaning the mess in financial sector
The International Monetary Fund (IMF) has urged the participating world leaders to clean up the financial sector. It said that this is necessary to ensure that the stimulus money is available next year too.
Observing that the world is at a crossroads now as it faces the greatest economic crisis in 60 years, the IMF Managing Director Dominique Strauss-Kahn said at a news conference in Washington that the G-20 leaders have the opportunity to spur a recovery next year if they take the right action.
IMF director said that cleaning up the balance sheets of banks and getting the financial sector working again was critical to reviving world growth countries can do it in different ways, but they have to do it and do it now.
Meanwhile, the UN Secretary General Ban Ki-moon has said that the introduction of a new global currency is one of the issues which will be discussed at the G20 summit. He said, the UN had set up a special commission to tackle the problem of the financial crisis.
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