IMF committed towards financial stability

International Monetary Fund members vowed Saturday to secure global financial stability to allow urgently needed reforms and regain worldwide economic growth. "We remain committed to take the necessary actions to secure global financial stability," the IMF's policy-steering committee said in a final communique at the IMF-World Bank spring meetings in Washington. More than 20 IMF countries pledged 430 billion dollars in credit lines toward the IMF's available bailout money as a "global firewall." "This effort, together with the national and regional structural, fiscal, and monetary actions that have been put in place in the past months, shows the commitment of the international community to safeguard global financial stability and put the global economic recovery on a sounder footing," the IMF statement said.