News Brief: IMF Managing Director Welcomes G-7 Support for IMF
June 16, 1995
IMF Managing Director Welcomes G-7 Support for IMF
Michel Camdessus, the Managing Director of the International Monetary Fund, commenting on the communique issued today by the Group of Seven at the Annual Economic Summit in Halifax, said:
"The Group of Seven has underlined the central contribution made by international institutions to global stability and prosperity over the past 50 years. Its conclusion that the IMF's role in the international monetary system should be strengthened is a great encouragement.
"I welcome, in particular, the G-7's conclusion that the role of the IMF, in an environment of increased globalization, calls for a strengthening of its surveillance. I also consider important the G-7's call to ensure that the IMF has sufficient resources to meet its responsibilities and appropriate financing mechanisms to operate on a scale and with the timeliness required to manage shocks effectively.
"I look forward to early discussions among the entire membership
of the IMF of all the recommendations of the Halifax summit,"
Camdessus said.
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