Canada's Dodge says funds should not report to IMF

WASHINGTON, Oct 20 (Reuters) - The International Monetary Fund should have no role in monitoring large state-owned investment funds, Bank of Canada Gov. David Dodge said on Saturday, suggesting all countries simply demand transparency from all foreign investors.

"The whole idea on these funds is that they be transparent," he said "... It's not that you report somehow in secret to some little group here at the IMF," he told a small group of reporters in Washington.

A credit rescue plan led by U.S. banks is a "sensible idea" because it buys time and prevents a potentially destabilizing dumping of assets on financial markets, he said.