Home » Business » IMF: G20 must do more on financial supervision

IMF: G20 must do more on financial supervision

IMF-Dominique pakistan newsAGADIR: The Group of 20 leading economies must do more to strengthen international supervision of the financial sector, International Monetary Fund chief Dominique Strauss-Kahn said on Monday.

G20 leaders are due to meet in South Korea on Nov. 11-12 for a summit which is expected to focus on tackling imbalances in the world economy and reducing the risk of a currency war.

Speaking at a conference on human development in the Moroccan city of Agadir, Strauss-Kahn said the financial sector — blamed by many for triggering the global economic downturn — also remained a preoccupation.

“The G20 heads of state who met in London, Pittsburgh, Toronto and shortly in South Korea, said strongly and loudly for the population of the world to hear them, they will fix it (the financial sector),” Strauss-Kahn said.

“The reality is unfortunately more complex than this. The most difficult part in the field of regulation has been done.”

“But more and more has to be done in the area of international supervision. You can have the best regulation in the world but if its implementation is not supervised, it will not be of any use,” he said. – Reuters

Like this story?

More News on EPakistanNews.com

Pakistan News update 24 hours, latest breaking news updates in Pakistan, Pak news, Pakistan Urdu columns, latest news pakistan, political news updates, E Pakistan Newspaper, Karachi News, Karachi Updates, Lahore news, Islamabad news, Multan news and more breaking news, E Pakistan News brings Latest Pakistan News, headline news, pk politics, News online, sports, politics news from Pakistan.

Home - Disclaimer - Follow us on Twitter - Like us on Facebook

Copyright © 2010-2015, E Pakistan News, All rights are reserved.
This material may not be published, broadcast, rewritten or redistributed without permission are strongly prohibited.
if you need any further assistance please contact us via email epn@epakistannews.com