The head of the International Monetary Fund (IMF) says the global lending agency has learned from mistakes it made handling the Asian financial crisis in 1997 and 1998. IMF Managing Director Dominique Strauss-Kahn made the admission during an Asian tour that brought him on Wednesday to Indonesia for a meeting with President Susilo Bambang Yudhoyono. Mr. Strauss-Kahn said the IMF did some thing right but it also did thing wrong and it has learned a lot from this crisis . Speaking earlier in Singapore, Strauss-Kahn said the organization failed during the crisis to recognize that countries in the region have differing political and historical circumstances. He said the region now must deal with the threat of inflation, especially in food and energy prices. The IMF chief said capital inflows are driving prices higher with a potential risk of social unrest.
News On AIR | February 2, 2011 6:12 PM
IMF has learned from past mistakes, says its CMD Kahn