Mubasher: The International Monetary Fund (IMF) called on advanced and emerging market countries to implement the global regulatory reform agenda to help create a more resilient global financial system capable of coping with financial shocks and the looming crises in oil exporting emerging ec           onomies.

IMF head Christine Lagarde called for facilitating a greater sharing of technology between the advanced economies and their emerging peers by finding a better balance between intellectual property protection and technology dissemination.

To facilitate the sharing of technology and know-how is foreign direct investment (FDI) into emerging and developing economies, which as a share of GDP, is now well below what it was in 2000-06.

"Our global forecasts predict it will fall even further by the end of the decade. So we need greater efforts to remove unnecessary barriers to FDI, and to replace hot money with longer-term investment,"Lagarde said .