WASHINGTON. Apr 3: The International Monetary Fund has limited reserves to respond to any new financial crisis because It has already committed billions to Asian financial bailouts. IMF Managing Director Michel Camdessus said Thursday, reports AP.

He said he expected Congress to approve a US administration proposal to provide the IMF with 18 billion dollars in new funding.

Speaking at the National Press Club. Camdessus said the 182-nation organization he has led for 11 years cannot act in an emergency unless it has adequate resources.

There are still major risks in the world economy, he said. "Thus it is a matter of concern that the IMF's usable resources have dropped to a level that leaves us little room for maneuver to respond to a new crisis."

He said he was confident the United States, the largest con-

tributor to the IMF. "will maintain its leadership by supporting the IMF."

Last year, the IMF put together rescue packages worth more than 100 billion dollars for Thailand. Indonesia and South Korea, committing 32 billion dollars of its own reserves. Treasury officials estimate it has only 15 billion dollars in available funds for any new crisis.

The Senate approved new IMF funding by an 84-16 vote last week. House action is expected after the Eastern recess.

Replying to criticism that the IMF was caught off guard by the economic troubles in Asia. Camdessus suggested four areas where it could work with member countries to prevent future crises.

They are improving financial information the countries make public, strengthening domestic financial systems, encouraging capital flow liberalization and fighting corruption.