US organising Asia crisis meeting

Officials in Washington say the United States is trying to arrange a meeting of finance ministers from around the world to discuss Asia's economic crisis.

A Treasury spokeswoman said it was hoped the leading industrial nations would attend the meeting, which might coincide with the summit of the Group of Seven countries and Russia next month.

A BBC correspondent in Washington says the administration is deeply concerned by the financial turmoil in Asia; both the Deputy Treasury Secretary and the Defence Secretary are in the region at the moment.

But President Clinton is also under pressure from Congress not to throw American money at the problem.

From the newsroom of the BBC World Service