Finish the job

2 April 2009 By Hugo Dixon Follow @hugodixon

Dominique StraussKahn says G20 nations haven t done enough to clean up their banks balance sheets. Progress has been made in some countries. But the real weakness remains the US, which still only has half a plan. It needs to do two things to complete the job.

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The head of the IMF has warned that G20 nations aren't moving fast enough to clean up their banks' toxic balance sheets.

Dominique StraussKahn told the FT: You never recover before the cleaning up of the banking sector has been done. He said the US and EU were not yet moving quickly enough.

Last week, the US gave out more details of its plan for a publicprivate investment partnership under which the authorities would provide nonrecourse funding to private investors to help them buy toxic assets from US banks.

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