MercoPress. South Atlantic News Agency

Preventive role for IMF

Following a round of world financial crisis in emerging markets, International Monetary Fund announced this week the creation of a new Department to monitor world financial markets.

The International Capital Markets is supposed to improve IMF's prevention capacity and will reinforce its ability to help country members access to capital markets, indicated IMF Director General Horst Köhler.

The new Department is expected to play an important role in talks with the private sector and in investors communication. "This will be a crucial link in our efforts to reinforce the world's financial architecture and particularly IMF' role in anticipating crisis", indicated Mr. Köhler.

IMF has come under severe criticism following the chain of financial crisis that begun several years ago in Asia and extended to the rest of the world threatening the global economy.

International Capital Markets main job will be to anticipate risk situations and activate preventive measures, with sufficient time. No head of Department has yet been named.