* Low-income countries have so far responded well to global crisis
* Unprecedented scaling up of IMF financial support helped poorer countries
* Governments must resist temptation to cut aid, engage in protectionism
Rich countries need to step up their support to poorer countries so they can quickly rebound from the crisis that came from the advanced economies, IMF Managing Director Dominique Strauss-Kahn said.
In a September 17 speech at the Center for Global Development in Washington, D.C., he observed that thus far, low-income countries have weathered the global financial crisis better than expected. “But low-income countries remain highly vulnerable”, he stressed, “so we cannot be complacent.”
Strauss-Kahn called on the international community to ensure that any global recovery also lifts the low-income countries. “These countries desperately need additional financing to tide them over, to give them adequate breathing space to cope with this crisis,” he said.
See full Press Release.
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