NEW DELHI, April 8: The Economic and Social Commission for Asia and the Pacific (Escap) survey, 1999 has called for the setting up of an Asian fund and strengthening the financial architecture for tackling any future east Asian-crisis.The Escap survey was released here on Thursday by VR Panchamukhi, director general of the Research and Information System for the Non-Aligned and Other Developing Countries.
"The Asian fund would be a source of additional liquidity to what is currently available to IMF. Its liquidity would help to improve market sentiment. It could be designed to be quick-disbursing in nature. Thus, it could help member countries as soon as signs of distress became visible.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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