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IMF will Strengthen Early Warning Systems

Strauss-Kahn, Managing Director of IMF said about business and economic that the commitment to complete the reform of quota 5% for developing countries, although not easy to unify the views in board policy. Over-quota countries is reduced and balanced with other countries. Asia, he explained, need to anticipate the impact of movements in capital flows very fast, because the system of the country’s economy is already very open. To this he promised to ensure that will strengthen early warning systems. “We will work hard to make useful analysis of this institution for the region. We will strive to improve the effectiveness and control of policy advice provided by the IMF,” he said. Kahn will also ensure the strengthening of global security network so that it will cooperate more closely with countries in Asia.

The IMF is reviewing several options to strengthen mechanisms to prevent crises and mitigate the systemic impact. No half-hearted, he said it had set up the reform package [quotas] in 2008 and will improve again at the G-20 Summit in Seoul in November for the interests of developing countries of a total of 186 member countries. Until February 28, 2010, the valuation of IMF quotas was to reach U.S. $ 333 billion. At the same time, the IMF also has lending commitments worth U.S. $ 191 billion, while the amount of funds not yet disbursed reached U.S. $ 121 billion.