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World leaders attending the APEC summit in Peru have approved plans to reform the International Monetary Fund and the World Bank and agreed on a one year-long moratorium on new barriers to world trade and investment. They are meeting to plan a way out of the world financial crisis and say they are committed to the principles of free trade.
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In an interview with FRANCE 24, IMF chief Dominique Strauss-Kahn said that rising food prices could lead to a financial crisis as serious as the current 'subprime' crunch.
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At the G-20 in Washington, Europe spoke with one voice, and the IMF increased its power