WASHINGTON (AFX) - The IMF's main policymaking committee said the global economy remains strong despite high oil prices.
Downside risks to the growth outlook come from energy prices, 'the potential for an abrupt shift' in market conditions, a rise in protectionism and a possible avian flu pandemic, it said.
The committee endorsed proposals to increase the Fund's surveillance of the global economy, including currencies, to derail potential crises.
It also endorsed a plan to give developing nations more power within the IMF.
UK Chancellor of the Exchequer Gordon Brown, chairman of the IMF committee, said the full IMF should agree to the reforms at the Fund's annual meetings to be held in Singapore in September. steve.whitehouse@afxnews.com mw/sw COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited