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Gold/Mining/Energy : Gold Price Monitor

GDXJ 127.15

+0.4%

Jan 15 4:00 PM EST

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To: scotty who wrote (28555)	2/19/1999 5:59:00 AM
From: Alex	Read Replies (2) of 116857

Chirac says IMF can put world economy back on track Copyright © 1999 Nando Media Copyright © 1999 Agence France-Press For more information on the International Monetary Fund WASHINGTON (February 18, 1999 7:19 p.m. EST nandotimes.com) - French President Jacques Chirac called Thursday on international financial institutions to right the world economy. "Let us build the new financial architecture we need," Chirac said before French officials of the International Monetary Fund, the Inter-American Development Bank (IDB) and the World Bank. "Let us refound the Bretton Woods system," he said after a two-hour meeting with IMF director general Michel Camdessus, IDB head Enrique Iglesias and World Bank president James Wolfensohn. "We need better world regulation, and you must be the chief actors," the French president said on the first day of a three-day working visit to the United States. "Remember, market liberalization was done in disorder. Banking systems often remained too fragile to accomplish the tasks they were assigned," he said. Chirac also reiterated his call for a "substantial strengthening" of cooperation between the United States, European Union and Japan to stabilize exchange rates.

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