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IMFC Chairman Tharman Shanmugaratnam told a news conference that the agreement to build a firewall to contain further crises by boosting the IMF’s resources arose from a broad consensus that spanned European and non-European countries, and advanced and emerging economies. “We all agreed that it was absolutely essential to have the firewall built up at this time. It’s not a day too early to be building up the firewall,” Shanmugaratnam said. “But we also felt that the real solution to the crisis does not have to do with firewalls. The firewall is a necessary but far from sufficient condition to resolving this #crisis.#IMF #debt #economies
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