RODRIGO RATO

To try to correct imbalances with trade restrictions is a grave error.

There is not an alternative to the US as the engine for growth.

So the American economy needs the world, and the world needs the American economy.

We have believed for many years, much earlier than anyone else was talking about this issue, that it was in the interest of China to evolve to a more flexible exchange rate system.

And then you might decide that the country can just spend maybe years or decades to regain that credit, or maybe give that county the support, the financial support that the market is not willing not do.

Most cases, I would say, in a huge amount of cases, countries that have worked with us and have used our financial facilities have come out quick... more quickly and in a better shape from a crisis than would have come out otherwise.

And it's also producing a growth in debt to the United States that will weight very heavily in a country that has to address issues like having more old people to be covered by Social Security or by pension in the future.

Masood Ahmed brings to the position of director of external relations extensive experience gained in a range of senior positions in international finance and development.

We believe that the Federal Reserve has to carry on with a progressive increase in interest rates as a consequence of the American economy.

We have seen a strong increase in oil prices and up to this year we see that the world has been able to absorb that.

So the American economy needs the world, and the world needs the American economy.

Oil prices have certainly become a threat for the world economy.

We have believed for many years, much earlier than anyone else was talking about this issue, that it was in the interest of China to evolve to a more flexible exchange rate system.

We would certainly encourage the Italian government to put forward an ambitious agenda of reform.

We have seen a strong increase in oil prices and up to this year we see that the world has been able to absorb that.

We believe that the Federal Reserve has to carry on with a progressive increase in interest rates as a consequence of the American economy.

Most cases, I would say, in a huge amount of cases, countries that have worked with us and have used our financial facilities have come out quick... more quickly and in a better shape from a crisis than would have come out otherwise.

I mean, the world has already done a big, big effort to forget debt to countries heavily indebted and with low income. And that has given good chances to countries to get out of poverty.

What we have achieved is a good example of how the right policies deliver.

We also need a fund that can say 'no'.

And then you might decide that the country can just spend maybe years or decades to regain that credit, or maybe give that county the support, the financial support that the market is not willing not do.

To try to correct imbalances with trade restrictions is a grave error.

There is not an alternative to the US as the engine for growth.

And it's also producing a growth in debt to the United States that will weight very heavily in a country that has to address issues like having more old people to be covered by Social Security or by pension in the future.

Masood Ahmed brings to the position of director of external relations extensive experience gained in a range of senior positions in international finance and development.