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'Collective action' needed to tackle financial crisis
- Middle East: Tuesday, October 28 - 2008 at 14:32
Deputy US Treasury Secretary Robert Kimmitt said the financial crisis in the United States has ramifications for all countries across the globe, including the Gulf, Bloomberg has reported. He said 'collective action' is needed to end the crisis, which he believes was triggered by inadequate risk management and supervision. The US welcomes investment by sovereign wealth funds, Kimmitt said, and added that Gulf investment is playing a growing role in bolstering America's economy.
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Jeff Florian, Senior ReporterTuesday, October 28 - 2008 at 14:32 UAE local time (GMT+4)
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