Oct. 30 (Bloomberg) -- The International Monetary Fund's chief, Dominique Strauss-Kahn, said the Group of 20 countries that will meet in Washington on Nov. 15 in the wake of the financial and economic crisis, needs a ``new global regulation strategy,'' Le Monde quoted him as saying in an interview.

Strauss-Kahn said the system should provide a new short- term liquidity facility, increase funding for the IMF, monitor the new regulatory bodies that will be created as the crisis strains economies, Le Monde reported.

He said the IMF expects global expansion of 3 percent in 2009, with no growth in the ``advanced economies'' and 6 percent to 7 percent growth in emerging countries.

Market volatility may ``quiet down'' since the U.S. and European rescue plans announced in the last weeks ``are solid,'' he told the daily newspaper.

The G20 includes China, Brazil, Russia, South Africa, Australia, Saudi Arabia, Canada, South Korea, Japan, Turkey, Germany, France, The United States, the U.K., Mexico, Italy, India, Indonesia, Argentina and a European Union representative.

For Related News: IMF News: NI IMF BN <GO>

Last Updated: October 30, 2008 06:37 EDT