We have believed for many years, much earlier than anyone else was talking about this issue, that it was in the interest of China to evolve to a more flexible exchange rate system.
And it's also producing a growth in debt to the United States that will weight very heavily in a country that has to address issues like having more old people to be covered by Social Security or by pension in the future.
And then you might decide that the country can just spend maybe years or decades to regain that credit, or maybe give that county the support, the financial support that the market is not willing not do.
I mean, the world has already done a big, big effort to forget debt to countries heavily indebted and with low income. And that has given good chances to countries to get out of poverty.
Masood Ahmed brings to the position of director of external relations extensive experience gained in a range of senior positions in international finance and development.
Most cases, I would say, in a huge amount of cases, countries that have worked with us and have used our financial facilities have come out quick... more quickly and in a better shape from a crisis than would have come out otherwise.
