IMF merges Asia offices

IMF merges Asia offices

WASHINGTON (DPA): The International Monetary Fund will start
to merge its three departments dealing with various regions in
Asia into a single unit in the new year and will soon establish a
field office in Asia, the Fund's director announced Friday.

The reorganization is designed to reflect the growing
importance of Asian countries and financial centers to the global
economy, Managing Director Michel Camdessus said.

"The establishment of an office in Asia will enable the IMF to
develop closer ties with the region and its regional
organizations, national policy makers, financial markets and
media, and to monitor developments more effectively," Camdessus
said.

The new Asia and Pacific Department will be headed by Hubert
Neiss, an Austrian who is currently director of the Central Asia
Department, one of the three branches to be merged under the
reorganization.

Kunio Saito, of Japan, currently head of the Southeast Asia
and Pacific Department, will become director of the regional
office, which will be established at a location in Asia yet to be
announced, the IMF said.