IMF backs 'growth-friendly' policy | Bangkok Post: news

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IMF backs 'growth-friendly' policy

The world economy needs to balance austerity with growth if it is to recover fully from the global financial crisis, a key IMF committee said in Tokyo on Saturday.

Awaiting the start of their Tokyo conference on Saturday, from left: IMF deputy managing director David Lipton, managing director Christine Lagarde, Monetary and Financial Committee chairman Tharman Shanmugaratnam, and IMF secretary Lin Jianhai.

"Fiscal policy should be appropriately calibrated to be as growth-friendly as possible," the International Monetary and Financial Committee said in a communique.

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  • DONHUAN

    ThailandPost : 366

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    Discussion 1 : 14 Oct 2012 at 14.281

    Those IMF people still didn’t get it do they? The best way to prevent future “Financial Crisis” is to control the banks’ excessive speculative businesses by reforming / separating their traditional banking businesses from their speculative activities. As for those “PIGS”, let the capitalist market make the inherent adjustments needed as IMF have always advocated during the “Thaitanic” years in 1997. But I guessed it’s the “different country different stroke” approach. Since Germany, being the main sponsors, cannot agrees with the IMF on key issues, perhaps they should consider removing themselves out of EUROs to allow the currency to devalue instantly; birds of the same feather should flock together. Germany, being the #1 economy in Europe, should go the British way and let the Euros to their own devices; swim or sink based on their on collective strengths or weaknesses. Germany had been accused of using the "cheap" Euros to benefit their export.

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