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Summary
The head of the International Monetary Fund on Wednesday said world leaders must not abandon financial sector reforms designed to prevent a repeat of the credit crisis that devastated economies. IMF Managing Director Dominique Strauss-Kahn said it was crucial to usher in key changes, including better regulation and oversight of the banking sector. We need reform and we need political will, he told the Asian Financial Forum in Hong Kong. There is still a lot to do... My concern is that in six to 12 months, everybody will be back to business as usual and will have forgotten the lessons of the financial crisis, he said.
