IMF Seeks Asia's Help to Tackle Eurocrisis

TORONTO (IDN) – When an international commission headed by Nobel laureate Willy Brandt drew attention to global economic interdependence in its report in 1980, the world was divided between rich North and the poor South. More than three decades later, the International Monetary Fund (IMF) is asking what were until recently developing countries to help stave off the European financial crisis resulting in the global economy sinking like Titanic.

The Fund is looking to work ever more closely with Asia to lessen the impact of the global crisis on the region and to help promote sounder and stronger growth globally, David Lipton, IMF First Deputy Managing Director, had said.

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