World leaders should be happy that the IMF stands ready to take the lead in the next phase of the global financial crisis, even if its lending resources of approximately $250 billion are inadequate to stem the current run on emerging markets. Emerging-market companies alone have hundreds of billions coming due in the next twelve months, far more than their governments’ reserves can cover if credit markets do not normalize.
国际货币基金组织准备在全球金融危机的下一阶段起带头作用，即使其大约2500亿美元的贷款对阻止金融危机当前在新兴市场的扩散来说，并不够，但是，世界各国领导人仍然应该对此感到高兴。单单新兴市场的公司在接下来的12个月里，就有几千亿美元贷款到期，如果信贷市场不能正常化，这个数字就会远远超过它们的政府储备。