Oct 11, 2008 3:14 pm US/Central
IMF Calls For Vigilance In Fighting Credit Crisis
WASHINGTON (AP) ―
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(L-R) Fed Chairman Ben Bernanke, IMF Managing Director Dominique Strauss-Kahn, State Secretary for Finance of Belgium Bernard Clerfayt, and Governor of the National Bank of Belgium Guy Quaden speak before the start of a meeting Oct. 11, 2008.
Eugene Salazar/IMF /Getty Images
The International Monetary Fund says it strongly endorses a plan by rich countries to fight the global credit crisis.
The lending institution says in a statement after a daylong meeting that it has given full support to the action plan approved on Friday by wealthy nations.
The IMF's policy setting panel said Saturday the economic crisis is so deep and widespread that it requires excellent coordination among nations and a willingness to take bold action.
President Bush is putting in an appearance at meeting of the world's richest and fastest-growing nations. It's one more attempt to show decisive global resolve against the unfolding financial crisis.
An administration official confirms Bush's planned appearance Saturday evening in the talks involving Treasury Secretary Henry Paulson and the Group of 20 countries. The meeting not far from the White House is intended to help bolster the image of international cooperation in dealing with the economic crisis.
The official spoke on condition of anonymity so as not to pre-empt Bush's appearance.
Earlier Saturday, Bush had financial officials from the world's richest countries over to the White House for talks.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
Timeline: U.S. Credit Crunch & Financial Failures
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