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IMF focuses on restoring stability, growth
The International Monetary Fund (IMF) is focusing its bi-annual work programme on issues that would help restore global economic stability and rekindle growth and job creation.
IMF Managing Director, Christine Lagarde, in presenting the work programme to the Executive Board said: “The commitment to increase Fund resources by over $430 billion on a temporary basis attests to the membership’s willingness to act collectively and decisively to get ahead of the crisis.”
She emphasised that “For our part, we must continue to support these efforts with clear and pointed advice on macro financial policies, and strong and well-designed programmes. This is true not only for Europe, where the risks to stability have been acute, but across the span of the membership.”
The IMF boss further said that an important challenge is to enhance inclusive growth, while ensuring debt sustainability, adding that IMF would provide analysis and policy advice on achieving credible fiscal consolidation and government debt reduction, an issue germane to many members.”We need to continue to offer pragmatic remedies to the main risks confronting the global economy, help members address spillovers, and support their economic transitions and development agendas. We need also to strengthen our internal processes, with reforms of surveillance, quotas and governance,” Ms. Lagarde concluded.
The work programme prioritises efforts in restoring stability and strengthening policy advice, including continued repair and reform of the financial sector, and on various aspects of growth and employment; assessing the experience with Fund conditionality and drawing lessons for new programs; stepping up support for Arab countries in transition; assisting low-income countries with policy advice and financial support.Share