International Monetary Fund head Dominique Strauss-Kahn on Friday called for a tax on the financial sector to protect the world economy from the "systematic risk" it creates, The Independent in London reported on Saturday, citing the IMF head.
Speaking in Turkey before the IMF-World Bank annual meetings on building a stable world after the economic crisis, Strauss-Kahn said it was "just fair" that the financial sector contributes to an insurance-style scheme to cover the risks it creates.
"Having some money coming from the financial sector to create a kind of fund for insurance or funding for low-income countries is something that we are going to consider," the newspaper added.
There has been much speculation over the introduction of a "Tobin tax" on foreign-currency transactions, but Strauss-Kahn ruled it out Friday for "technical reasons."
The IMF's first deputy managing director, John Lipsky, is preparing a report for the G-20 on the issue, the Independent said.