IMF needs to step up surveillance: Italy's DG

The International Monetary Fund (IMF) should significantly step up international surveillance, said Fabrizio Saccomanni, the director general of the Bank of Italy.

Saccomanni said that the IMF must be entrusted with the task of identifying unsustainable trends in payment imbalances, credit flows, asset prices and exchange rates, and of formulating specific policy advice to the relevant member countries.

He said that the gravity of the crisis meant that the market-led international monetary

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