Posted on July 14, 2011 by iMFdirect
Speaking to the pain and anger of the Irish people at the toll the economic adjustment has taken on their daily lives, the IMF’s mission chief Ajai Chopra was clear during a press conference today in Dublin: the end goal is to protect the poor and most vulnerable people in society while restarting the economy.
“We would all agree the key objective is to get growth going again, to create jobs, and bring down unemployment and that will be the true mark of success,” said Chopra.
Filed under: Economic Crisis, Europe, Fiscal policy, growth, IMF, International Monetary Fund | Tagged: banks, bonds, EC, ECB, economy, European Central Bank, European Commission, financial markets, fiscal policy, growth, International Monetary Fund, Ireland, unemployment | 8 Comments »
Posted on January 17, 2010 by iMFdirect
By Marek Belka
Much is riding on getting the timing of the exit right from the stimulative policies used to combat the global economic and financial crisis. This is something that IMF Managing Director Dominique Strauss-Kahn has repeatedly emphasized. Exiting too early may jeopardize the recovery. But exiting too late may sow the seeds for the next crisis, as Wolfgang Munchau and others have argued recently. I also agree with Jean Pisani-Ferry and his colleagues that exiting in an uncoordinated fashion will lead to a renewed build up of financial instability.
To successfully unwind the extraordinary policy measures taken in response to the crisis, we need more than just a good sense of the state of the economic recovery and the degree of financial stability. We also need to know to what extent the global economy currently is influenced by those supportive policy measures. Is it safe yet to change course?
Filed under: Advanced Economies, Economic Crisis, Europe, Financial Crisis, Financial regulation, Fiscal Stimulus, growth | Tagged: bank lending, Banking crisis, eastern Europe, ECB, Europe, European Central Bank, fiscal policy, Fiscal Stimulus, G-20, Jean Pisani-Ferry, Lucas Papademos, recovery, the euro, unemployment, Wolfgang Munchau, World Economic Outlook | Leave a comment »