FRANKFURT - THE head of the European Central Bank (ECB) called on Friday for the International Monetary Fund (IMF) to play a greater role in resolving the global financial and economic crisis.

ECB president Jean-Claude Trichet said 'the current crisis highlights the fact that the IMF needs to gain more traction as regards the important countries,' or those whose economies affect the entire global economy.

'This will not be straightforward but the IMF's Multilateral Consulations, which foresee a direct exchange between key members of the global economy, represents a process that should be vigorously developed for this purpose,' Mr Trichet said.

He added that it was important to set up a 'well-functioning surveillance framework which identifies imbalances in a timely fashion and encourages the implementation of corrective measures.' -- AFP