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I mean, the world has already done a big, big effort to forget debt to countries heavily indebted and with low income. And that has given good chances to countries to get out of poverty.
What we have achieved is a good example of how the right policies deliver.
Most cases, I would say, in a huge amount of cases, countries that have worked with us and have used our financial facilities have come out quick ... more quickly and in a better shape from a crisis than would have come out otherwise.
We also need a fund that can say 'no'.
We would certainly encourage the Italian government to put forward an ambitious agenda of reform.
Oil prices have certainly become a threat for the world economy.
And it's also producing a growth in debt to the United States that will weight very heavily in a country that has to address issues like having more old people to be covered by Social Security or by pension in the future.
We have believed for many years, much earlier than anyone else was talking about this issue, that it was in the interest of China to evolve to a more flexible exchange rate system.
So the American economy needs the world, and the world needs the American economy.
Masood Ahmed brings to the position of director of external relations extensive experience gained in a range of senior positions in international finance and development.
There is not an alternative to the US as the engine for growth.