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| [00:00.00] | The International Monetary Fund |
| [00:02.91] | has told governments across the world |
| [00:04.46] | that further action is needed |
| [00:06.08] | to help return the global financial system to stability. |
| [00:08.75] | In a fresh estimate of the scale of the problem, |
| [00:11.37] | the IMF says global losses on toxic assets |
| [00:14.35] | could total four trillion dollars. Andrew Walker reports. |
| [00:18.02] | This report does identify |
| [00:20.26] | what it calls some early signs of stabilization in financial systems, |
| [00:23.56] | but there are not many of them. |
| [00:25.55] | And the IMF says further action will be needed |
| [00:27.79] | if they're to be sustained. |
| [00:29.41] | In two key areas, it says that progress by governments |
| [00:32.45] | has been piecemeal and reactive, |
| [00:34.44] | dealing with the problem assets held by financial institutions |
| [00:37.43] | and how to handle banks that need extra capital. |
| [00:40.67] | For that problem the report says |
| [00:42.97] | temporary government ownership may sometime be necessary. |
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