According to UNCTAD, Asia must have its own sources to meet monetary requirements.


UNCTAD Chief Advocates The Necessity For Asian Monetary Fund
Last Updated: 2009-07-04T10:47:36+05:30
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Supachai Panitchpakdi Justifies Asia Monteary Fund
Supachai Panitchpakdi
Supachai Panitchpakdi
Asia should have its own monetary fund for ensuring a better financial stability of the region, said the UNCTAD chief.
"Ultimately Asia should have its own monetary fund," Supachai Panitchpakdi, secretary-general of the United Nations Conference on Trade and Development (UNCTAD), was quoted saying on Saturday. 
Supachai said that it was vital for the further strengthening of bilateral and multilateral economic cooperation in the region and a monetary fund for the Asia can offer better help to cushion the impact of economic crises for Asian nations. 

He was speaking at the Global Think Tank Summit in Beijing on Friday.
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