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BRIEFLY

Banking & Finance

February 12, 1996|Times Staff and Wire Reports

IMF Releases Details of Financial Early Warning System: More than a year after an economic crisis rocked Mexico and sent shock waves through financial markets around the globe, the International Monetary Fund is putting the finishing touches on an early warning system it hopes will help avert similar catastrophes. IMF officials believe if countries publish timely, accurate reports on such things as inflation, the growth of the money supply and foreign currency reserves, investors will be able to see problems developing before they become crises. The IMF released a 26-page proposal spelling out ways countries can accomplish this goal. In something of a switch, the 179-nation lending institution invited comment on the report. The IMF hopes to draw up final requirements by April.

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