IMF's Camdessus heads for SE Asian countries<\/p>\n
PARIS (Reuters): IMF head Michel Camdessus said on Thursday he
\nwas heading on a tour of Southeast Asia, where he would first
\nstop in Indonesia and then hoped to meet whoever would be
\nThailand's prime minister.<\/p>\n
Camdessus told a Paris news conference on Asian issues before
\nstarting his trip that he would also visit Malaysia, Singapore
\nand the Philippines before returning from Asia at the end of next
\nweek.<\/p>\n
\"I will visit Southeast Asia, not for the first time this year
\nand not for the last time,\" he said.<\/p>\n
One of the main reasons for the trip, he said, was to hold
\ntalks with the Indonesian authorities after the International
\nMonetary Fund formally approved its own direct contribution to
\nthe $23 billion rescue package for Indonesia.<\/p>\n
\"I would like to hold talks with the authorities to see how we
\ncan take things further from this point,\" Camdessus said.
\n\"I will then go to Thailand, there also to see how things can be
\ntaken further\" after a similar economic rescue package dating
\nback to August.<\/p>\n
\"I hope to have the opportunity to meet with the new prime
\nminister and give this program a new sending off,\" he said.<\/p>\n
Thai Prime Minister Chavalit Yongchaiyudh says he is resigning
\nwith effect from Nov. 7 and that his government will act as
\ncaretaker until a new one is formed.<\/p>\n
Camdessus said he wanted \"political clarification\" that the
\neconomic reform package tied to IMF aid would be implemented and
\nthat reforms could be ensured even before a new government was
\nput in place.<\/p>\n
Camdessus, a Frenchman, said he would also visit Malaysia,
\nSingapore and the Philippines before returning from Asia at the
\nend of next week.<\/p>\n
A spokesman for Malaysian Deputy Prime Minister Anwar Ibrahim
\nsaid Camdessus's visit there on Nov. 13 would help prepare for a
\nmeeting on Dec. 1-2 of finance ministers from the Association of
\nSoutheast Asian nations.<\/p>\n
The spokesman said in Kuala Lumpur that Camdessus was expected
\nto brief the December ASEAN meeting on a study which the IMF is
\nconducting into currency trading regulations.<\/p>\n
Malaysian Prime Minister Mahathir Mohamad has led a campaign
\nsince for new rules to govern currency speculation in the wake of
\nrecent market turmoil.<\/p>\n
But Camdessus made it clear in Paris the study was not in any
\nway intended to lead to a clampdown on speculation.<\/p>\n
\"You should not expect anything dramatic here (on this),\" he
\nsaid. \"One should be sure that you do not avoid crisis by
\nregulations,\" he said.<\/p>\n
\"If you tell me that you should have regulations to stop
\nmarkets falling, then you should have regulations to stop them
\ngoing up too,\" he said.<\/p>\n
The IMF study was about the question of transparency in
\nnational economies and financial disclosure, he said.<\/p>",
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