Asian Financial Crisis

Mr. Camdessus spoke about the International Monetary Fund response to the Asian financial crisis and how the markets there are responding. He said that the International Monetary Fund must receive additional funds from the U.S. to respond to new crises and warned that private investors must take a larger role in forecasting such events. He also outlined some ways to prevent other such financial problems, such as more publicized information and strengthening domestic financial systems. After his remarks, he took questions from the audience.