FOX Business News: Highlights from G20, IMF/World Bank meetings in Washington

http://www.foxbusiness.com/markets/2011/09/24/highlights-from-g20-imfworld-bank-meetings-in-washington/#ixzz1Z44mlyNi

Highlights of the highlights below. Click the link above for the full article.

IMF MANAGING DIRECTOR CHRISTINE LAGARDE: "As far as the IMF is concerned, it is ready and it will deliver on any type of resources necessary and available to all its members. It is not just a euro area focused issue at the moment. There are other countries that are affected. It is a global occurrence. It just happens that the epicenter is in the euro area."


IMFC COMMUNIQUE ON EMERGING MARKETS: "Emerging market and developing economies, which have displayed remarkable stability and growth, are also key to an effective global response....Surplus economies will continue to implement structural reforms to strengthen domestic demand, supported by continued efforts that achieve greater exchange rate flexibility."

FRENCH FINANCE MINISTER FRANCOIS BAROIN: "The internationalization of emerging market currencies is under way ... The Fund should be in a position to support this process, the final stage of which will be the inclusion of these currencies in the SDR basket. We should not disturb this process by adding extra conditions for currencies to join the SDR basket."

ON INTERNATIONAL RESERVE CURRENCY SYSTEM: "Efforts should be made to promote a diversified international reserve currency system. "A greater role of the SDR should be explored to improve global liquidity supply."