IMF chief wants reform not revolution

Mr Koehler starts at the IMF in May

Mr Camdessus left the IMF in February

The new head of the International Monetary Fund Horst Koehler says the lender needs reform rather than revolution.

"There is a clear understanding that there is need for reforms," he told BBC World but a "revolution" is not on the cards.

In recent years, the IMF's handling of the Asian crisis has prompted calls for a radical overhaul of the organisation.

Mr Koehler, who starts at the IMF in May, was appointed its head earlier this month following a bitter succession battle.

IMF under fire

The IMF lends money to countries which are in deep economic trouble - including Mexico and Russia in the 1990s - but attaches conditions, often controversial, to recipient countries' economic policies.

It times of crises, it has bailed out Western investors and banks, prompting its critics to say that it encourages reckless lending to developing countries.

Mr Koehler has responded by calling for the private sector to take greater responsibility in times of financial crises.

"There is broad consensus that the standards for business practices, banking supervision and so on should be developed further to make the international finanical system better able to cope with crises," he said in an interview with German magazine Die Zeit.

He is also likely to change the voting rights of IMF members, to reflect the economic might of some of the Asian emerging economies, he added.

Troubled appointment

Mr Koehler was unanimously voted as leader of the International Monetary Fund earlier this month.

His election followed a bitter dispute about who should lead the Fund.