Statement By IMF Managing Director Christine Lagarde On Central Banks Coordinated Dollar Liquidity Action

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today welcoming the coordinated decision by the European Central Bank, the Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank to conduct additional U.S. dollar liquidity-providing operations through the end of 2011:

“The path to recovery needs collective action by both political leaders and central banks. What we saw today was exactly what is needed. It shows central banks will do whatever it takes to restore stability."