IMF’s Lipsky says recovery is under way

first_img THE world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF’s first managing director, John Lipsky, said yesterday.“They are mainly confident that there is a moderate recovery underway globally,” he told reporters, referring to delegates at the G20 meeting of deputy finance and central bank chiefs in South Korea.“Obviously there are risks and challenges, but things seem to be moving more or less in line with our forecast,” he said, listing well-designed exit strategies and medium-term fiscal consolidation as challenges.He said some good progress has been made in discussing changes to the IMFs executive board, but did not elaborate. G20 members have pledged to reach an agreement on the issue by the time leaders meet in Seoul in November.The US, frustrated at Europe’s refusal to share more IMF power with emerging economies, took unprecedented action last month to block plans that would have kept Europe’s long-running dominance over the 24-member board. Emerging economies have called for a bigger say in international institutions such as the IMF in line with their increasing contribution to the global economy and the resultant importance in global economic policy coordination.A senior Indonesian official said emerging economies want more voting powers as well as a readjustment in the way the global economic policy is made. “For emerging markets, the important thing is not only the size of the increase of the quota, but the general idea of the relationship between the quota and governance of the IMF – and that needs to come in one package,” said Hartadi Sarwono, deputy governor of the Indonesian central bank. One senior official from a member country, who attended the whole of the meetings, said there was no discussion about specific currencies or currency issues, although issues related to reducing the global imbalances were a key topic. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farminvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionMartha Stewart CBDFind All of Martha Stewart’s CBD Products HereMartha Stewart CBDBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach RaiderFolliboost Haircare SerumThinning Hair? Use this For 1 Month and See What HappensFolliboost Haircare SerumWorldLifeStyleCanal Drained For First Time And They Find ThisWorldLifeStyle Share Show Comments ▼ IMF’s Lipsky says recovery is under way whatsappcenter_img Tags: NULL Sunday 5 September 2010 10:31 pm whatsapp More From Our Partners Kamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest KCS-content last_img

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