While finance leaders are expected to offer some hope of an economic recovery at their meeting today in Washington, substantial issues remain. Dominique Strauss-Kahn, managing director of the International Monetary Fund, warned that banks' bad debt needs to be resolved before the global economy can begin to grow again. "All the experience we have of past banking crises -- and we have a lot of experience with those banking crises in this institution -- is that you never recover before you complete the cleaning up of the balance sheet of the financial sector," Strauss-Kahn said. "You can postpone it. At the same time, you postpone the recovery."
Published in Brief: