Malaysia concedes IMF role in Asia forex swap deal

MALAYSIA - Malaysia will bow to a majority decision on whether the IMF plays any role in an Asia-wide currency swap safety net aimed at protecting countries facing balance of payments problems, Prime Minister Mahathir Mohamad said.

Malaysia's concession removes the main obstacle to ministers from 13 Asian countries signing an accord to set up a web of emergency credit lines when they meet on the sidelines of an Asian Development Bank annual meeting in Honolulu in early May.

"We have no choice,"