International cooperation 'Key to stability': Official

WASHINGTON: Deputy Governor of the People's Bank of China Yi Gang called for international cooperation on Saturday to restore global financial stability.

"Our current priority is to enhance international cooperation to prevent further deterioration and spillover of the crisis, and restore global economic and financial stability," Yi said.

The deepening and widening of the US financial crisis have triggered a major global slowdown and escalated uncertainty, Yi said in a statement at the 18th meeting of the International Monetary and Financial Committee (IMFC) on Saturday.