IMF calls for country-specific exits from stimulus, pledges to speed up reform

IMF calls for country-specific exits from stimulus, pledges to speed up reform

news.xinhuanet.com

WASHINGTON, April 24 (Xinhua) -- The International Monetary Fund's policy-steering body, the International Monetary and Financial Committee (IMFC) Saturday called for the implementation of country-specific exits from stimulus, and pledged to deliver on the long-expected quota and governance reform.

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IMF Managing Director Dominique Strauss-Kahn echoed his view on the same occasion, saying that recovery has been faster in Asia and more sluggish in other parts of the world such as Europe and Japan.

"We will continue to work to phase in country-specific exits from stimulus, recognizing the diverse pace of recovery and potential spillovers across countries and regions," the committee said in a communiqu issued after its meeting, which is part of the IMF/World Bank spring meetings.

The communiqu echoed a Friday statement of the G20 finance ministers and central bank governors, who said stimulus measures should be maintained in economies where growth is still highly dependent on policy support until the recovery is firmly driven by the private sector and becomes more entrenched.

Ie: the IMF recommends the continuing pumping up of economys not performing until there is definite proof that the private sector is recovering!

Actually that is good news because apparently the IMF believes that the recovery is dependent on the private segment! Not the government

news.xinhuanet.com
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[edit on 25/4/10 by plumranch]