The International Monetary Fund (IMF) warned central banks against the second round effects of high oil prices here Saturday.

Forecasting the continuation of high oil prices in the near future, IMF Managing Director Rodrigo de Rato noted at a press conference that their eventual impact on the world economy are notclear at present.

"We believe that the second round effects of oil prices have tobe extremely looked at by central banks. So this is a moment in which the central banks have to be very clear in monetary policy, pre-empting any increase in expectations of inflationary pressures," Rato said.

Commenting on Indonesia's oil crisis, Rato said that the Indonesian government is able to solve the problem as it is pursuing clear and transparent monetary policy.

The crisis will have little impact on the rest of Asia, according to Rato.

The press conference was held after a one-day seminar on Saturday, which saw a participation of some 20 finance ministers, central bank governors and senior officials from 14 Asian economies, as well as representatives from the IMF and the Asian Development Bank.

Jointly hosted by the IMF and the Monetary Authority of Singapore (MAS), the seminar addressed the opportunities and challenges of Asian financial integration as well as avenues to enhance regional surveillance and monetary cooperation.

Source: Xinhua