Speaking to a group of reporters earlier in the week, Lagarde welcomed the Contingency Reserve Agreement that
"There has to be cooperation" between various players when a new mechanism is established, Lagarde said, referring to the importance of strengthening the international safety net for a further stabilized financial system.
She indicated that participants in the new mechanism can draw on the experience of the IMF in such fields as multilateral surveillance and spillover work.
The five countries agreed in July to set up a
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