Tags: IMF | States | Fiscal | Monetary | Acts | Coordination

IMF: Major States’ Fiscal, Monetary Acts Need Coordination

Thursday, 21 Oct 2010 01:24 PM

Fiscal and monetary actions by the U.S. and major economies hold global implications and should be part of a coordinated policy response, an International Monetary Fund spokesman said today.

David Hawley, a senior adviser in the fund’s external relations department, also said that the IMF supports China’s decision to raise interest rates.

‘One has to recognize that any monetary or fiscal policy action by the U.S. or another systemically important country inevitably carries implications for other countries and this only serves to underline what our position is that a coordinated policy response is important to ensure that the benefits of one country’s policies are more widely shared,” Hawley told reporters in Washington.

Speaking of China, Hawley said: “The growth figures released today were broadly in line with our forecast. So, they don’t change the nature of our policy advice to China.”

Asked about Portugal, he said that the IMF welcomed the government’s announced measures to narrow its budget deficit and urged officials to implement the policy. The IMF also recommends additional measures to boost productivity, he said.

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Fiscal and monetary actions by the U.S. and major economies hold global implications and should be part of a coordinated policy response, an International Monetary Fund spokesman said today.David Hawley, a senior adviser in the fund s external relations department, also...
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2010-24-21
 

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