IMF looks for strength in the crisis itself

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International Monetary Fund, which accepted his lack of vigilance in preventing the crisis and has made little progress made in its reform to survive, will strengthen the global economic crisis, which Argentina said on Saturday it was "ironic."

Argentine Economy Minister Carlos Fernandez, aware that you can not avoid this revival, asked the Fund to at least take the opportunity to learn from its own turbulence and their own previous performances.

Brazil has asked the same thing through his Finance Minister Guido Mantega.

The IMF earlier this month received the largest injection of vitality in its history, when the G20 summit in London of the presidents of the rich nations richer and the poor pledged 1.1 billion dollars to be channeled through the institution with a view to reviving the economy.

The finance ministers of these countries, which include Argentina, Brazil and Mexico, met Friday in Washington to discuss the details, but still not clear how to get started.

The G20 also called for an increase in new arrangements of loans, up to 500,000 million, an expansion of participation of members of the financially strong institution. Mexico has already requested 47,000 protective Colombia millions of dollars and nearly 15,000 million.

The meeting of the IMF, U.S. Treasury Secretary Timothy Geithner said "need to reform and modernize the IMF's governance structure and attention to strengthen surveillance to ensure that the Fund remains a legitimate and effective the evolution of international financial and monetary system. "

Fernandez, whose country is faced with the Fund for the way it dealt with conditional programs during financial crisis of the early, said that while supporting the maneuver was necessary to specify in what conditions it would be worth "such action.

China, which is also a member of G20, has called for the IMF venda buy bonds developing nations instead of directly to the process for a loan.

Even if that were the output is unknown whether the Fund would deliver the necessary resources in time to trigger the global economy in the shortest possible time.

Cree that the institution must provide to the nations of the world most affected at least 187,000 million dollars for this purpose before the crisis have to touch bottom and its 185 members to submit a report in June.