The managing director of the International Monetary Fund (IMF) says that his organization is equipped to serve as a central bank for the world financial system. According to the Wall Street Journal, Dominique Strauss-Kahn said in a speech at the IMF’s annual meeting in Istanbul that the financial body, if given the necessary capital, could function as a global lender of last resort. “The international monetary system must be more stable, and anchored by a global lender of last resort,” he said, referring to the IMF. Strauss-Kahn pointed out that, should the IMF take up this increased responsibility, it would not serve as a global regulator, with that job going instead to the Financial Stability Board.
IMF Head: ‘We Can Be Central Bank’
IMF Managing Director Dominique Strauss-Kahn says that his agency can serve as a global central bank.
October 2, 2009