RESOLUTION ON GLOBAL FINANCIAL SYSTEM NOT TO REPLACE IMF - SYED HAMID.

KUALA LUMPUR, June 25 (Bernama) -- Malaysia's proposal to move a resolution on the international financial architecture at the 27th Session of the Islamic Conference of Foreign Ministers starting here on Tuesday is not aimed at taking over from the World Bank or the International Monetary Fund (IMF).

Foreign Minister Datuk Seri Syed Hamid Albar said today what Malaysia wished to see was both the rich and developing countries jointly make efforts to strengthen the world financial system.

"The IMF anecdote for the financial ills is the same for all. Some will have to die as their complaints differed. Hence, we have to diagnose the other problems as well," he …