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          Central banker: IMF needs improvement

          (Xinhua)
          Updated: 2009-04-18 20:57

          BOAO -- The International Monetary Fund (IMF) failed to give alarm or diagnosis, let alone remedies when problems occurred in developed countries, said Zhou Xiaochuan, governor of the People's Bank of China (PBOC), here Saturday.

          Central banker: IMF needs improvement
          Zhou Xiaochuan

          Zhou made the comment at a panel discussion during the Boao Forum for Asia (BFA) annual conference, saying that the IMF needs improvement in this respect.

          Related readings:
          Central banker: IMF needs improvement Boao conference begins with focus on financial crisis
          Central banker: IMF needs improvement Boao Forum urges Asian countries to cooperate in financial crisis
          Central banker: IMF needs improvement G20 leaders eye more IMF funds, tighter rules

          Zhou said he understood that it might be harder for the IMF, a global organization, to make decisions.

          "It is hard to imagine that any research institutions could monitor every happening around each corner of the world," Zhou said, noting that regional institutions might have more advantages in this field.

          "International financial institutions need reform, and have many weak points," said Zhou, adding that the combination of international and regional organizations would be a good option.

          Regional institutions such as the Asian Development Bank, could also alleviate the impact of financial crisis through increasing spending and boosting regional activities, he said.

          The first Global Think Tank Summit will be held in Beijing from July 2-4, where close to 100 top-notch think tanks from home and abroad will be represented, including the Brookings Institution.
          Main Forum
          International Financial and Economic Crisis and Global Economic Outlook
          Sub-Forums
          I:  Promoting Trade Liberalization and Investment Facilitation
          II: Sustainable Development and Macro-economic Policies
          III: Cooperation and Responsibilities of Multinationals during the Financial and Economic Crisis
          IV: Global Consumption, Savings and Financial Security
          V:  Idea Exchange with Global Think Tanks on Key Economic Issues
          Agenda
          Afternoon of July 2 - Opening Ceremony
          July 3 - Main Forum
          July 4 - Parallel Sub-Forums
           
          Photo Gallery
           

           

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