International Cooperation Key to Enduring Financial Reforms, IMF Chief Says

Better international cooperation is needed to foster lasting financial sector reforms, International Monetary Fund Managing Director Dominique Strauss-Kahn said. The international community will have to work on strengthening policy cooperation to encourage stable, strong and balanced economic growth. Financial institutions, meanwhile, need to acquire more capital and enhance their liquidity management.“We now appear to be on the path to recovery though it remains sluggish and uneven, and in need of continued policy support in many advanced economies,” Strauss-Kahn was quoted by RTTNews as saying. “The costs of the crisis lost growth, high unemployment, and sharply higher public debt will take many years to overcome.”