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The International Monetary Fund |
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has told governments across the world |
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that further action is needed |
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to help return the global financial system to stability. |
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In a fresh estimate of the scale of the problem, |
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the IMF says global losses on toxic assets |
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could total four trillion dollars. Andrew Walker reports. |
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This report does identify |
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what it calls some early signs of stabilization in financial systems, |
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but there are not many of them. |
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And the IMF says further action will be needed |
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if they're to be sustained. |
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In two key areas, it says that progress by governments |
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has been piecemeal and reactive, |
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dealing with the problem assets held by financial institutions |
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and how to handle banks that need extra capital. |
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For that problem the report says |
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temporary government ownership may sometime be necessary. |
