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IMFC urges prompt action to support global growth

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Added On April 15, 2019

The International Monetary and Financial Committee has pledged to make concerted efforts to mitigate risks and enhance resilience against the backdrop of a slowing global economy.
 
Economy Report has the story.
 
International Monetary and Financial Committee chairman, Lesetja Kganyago, urged prompt action to protect global economic growth in light of trade tensions, geopolitical risks and political uncertainties. 
 
Speaking at the Spring Meetings of the IMF and the World Bank, Kganyago said fiscal policy should remain flexible and growth-friendly, should focus on rebuilding buffers, and should strike the right chord between ensuring debt sustainability and supporting demand.
 
SOUNDBITE(ENGLISH): LESETJA KGANYAGO, IMFC chairman
 
"Monetary policy should ensure that inflation is on track toward target and inflation expectations are well anchored. And we agreed that Central bank decisions need to remain well communicated and data dependent."
 
The International Monetary and Financial Committee's new communiqué highlights the need to strengthen international cooperation, particularly on issues of global imbalances, trade tensions, international corporate taxation and sustainable financing practices.
 
The IMF lowered its global growth forecast for 2019 to 3.3 percent in its latest World Economic Outlook report on Tuesday,