WASHINGTON -(Dow Jones)- The International Monetary Fund must take a key role in monitoring foreign exchange and capital flow movements to ensure stability of the international monetary system, an advisory body to the fund said Saturday.
The International Monetary and Financial Committee acts as a steering committee to the IMF, which held its annual meetings in Washington this week.
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“Given that these issues”–global imbalances, continued volatile capital flows, exchange rate movements and reserve buildups–”are critically important for the effective operation of the global economy and the stability of the international monetary system, we call on the Fund to deepen its work in these areas,” the advisory body said in its statement.
The statement comes as IMF Managing Director Dominique Strauss-Kahn said at the opening of the gatherings that his organization
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