He had proposed an Asian Monetary Fund more attuned to the region's needs, and had lauded Malaysia's currency controls.

CNN: Fund of New Ideas

One proposal that has attracted a good deal of public attention is the establishment of an Asian Monetary Fund (AMF).

CNN: This monetary body would limit Crisis spillover effects

At the very least, the choice of Sakakibara would address one concern: with an Asian onboard, the IMF would lessen the impetus for an Asian Monetary Fund.

CNN: Fund of New Ideas

IMF-based approach to bail-outs and weaken the Asian idea of a separate regional monetary fund.

ECONOMIST: The IMF and Indonesia

That may be an ASEAN or Asian monetary facility -- not a fund, but a facility from which the countries in most distress can draw some help.

CNN: 'We Remain Confident'

Especially since the 1997 Asian financial crisis, in which the International Monetary Fund demanded high interest rates to bail out banks, developing countries have stocked up on reserves for fear of losing their national economic sovereignty.

FORBES: Cause of U.S. Trade Deficit: Money Flows Uphill

Particularly noteworthy in this regard have been decisions to grant the Chinese unconditional entry into the International Monetary Fund, the World Bank, and the Asian Development Bank.

CENTERFORSECURITYPOLICY: Building Democracy In China: The US Role

The International Monetary Fund reported overnight that Russia, Turkey and other Asian nations increased their official gold reserves in March.

FORBES: A.M. Kitco Metals Roundup: Comex Gold Solidly Higher On Technical Buying, Weaker U.S. Dollar Index

The International Monetary Fund's stern bookkeepers have moved in, and the Asian crisis is history.

FORBES: It ain't over yet