Paulson: emerging markets not immune to turmoil

WASHINGTON (Reuters) - Treasury Secretary Henry Paulson said on Saturday that emerging market countries are not immune to the global financial stresses that are hurting industrialized economies and must be careful in their economic policy choices.

In prepared remarks before the International Monetary Fund's steering committee, Paulson also urged the IMF to stay focused on its core missions, including currency surveillance and helping low-income countries avoid a return to debt distress.

"Emerging market countries have made impressive strides in strengthening fundamentals, enabling their economic growth to accelerate and their economies to be better cushioned against external shocks," Paulson said.

"Nevertheless, emerging markets are not immune from the global financial stress, and policy makers need to be especially attentive to implementing measures to support noninflationary growth, enhance economic resilience, and ensure sound financial systems," he said.

(Reporting by David Lawder, Editing by Chizu Nomiyama)