SHANGHAI, May 10 (Xinhuanet) -- The U.S.-based Institute of
International Finance (IIF) is proposing an action plan that
contains recommendations for action to prevent and manage
financial crises and restructure unsustainable debts in
exceptional cases.
   IIF Vice Chairman William R. Rhodes, who is here attending the
ongoing 35th Annual Meeting of the Board of Governors of the Asian
Development Bank, told a press conference Friday that the proposal
aims to help build a comprehensive framework for crisis prevention
and crisis management in emerging markets.
   He said that more work needs to be done in most countries to
ensure the consistent pursuit of macro-economic policies, while
promoting effective structural reforms, particularly in the
financial sector.
   Rhodes said that the action plan puts stress on crisis
prevention and intensified public-private sector cooperation.
   The action plan, Rhodes added, highlights the need for more
regular and more effective dialogue between the community of
private investors and creditors, the International Monetary Fund,
key regional institutions such as ADB, and national authorities. 
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