The chief of International Monetary Fund (IMF) said on Saturday that the world economy is now in the phase of rebuilding and all countries should implement financial reform in a coordinated way.
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IMF First Deputy Managing Director John Lipsky, IMF Managing Director Dominique Strauss-Kahn and Egyptian Minister of Finance and Insurance Youssef Boutros Ghali (L-R) give a press conference after the International Monetary and Financial Committeemeeting in Washington D.C
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IMF Managing Director Dominique Strauss-Kahn made the remarks at a press conference held after the meeting of the International Monetary and Financial Committee, the policy-setting body of IMF.
He said the world economy has experienced the phase of panic, the phase of action and the phase of relief.
"And now, I think, we are entering the fourth phase ... is clearly the phase of rebuilding," said Strauss-Kahn, voicing optimism toward the global economy.
But he also noted that the global economic recovery is unbalanced, in which Asia grows faster while Europe and Japan lag behind.
Strauss-Kahn said advanced economies are facing challenges of high unemployment and burden of debt, and capital inflows pose risks for emerging economies.
He called on every country to cope with these challenge in a cooperative and coordinative way.
Strauss-Kahn said IMF will focus on reform in the global financial sector and reform on quotas and other governance in itself. /.