Monday, December 1, 2008
I was reading through the speech given by John Lipsky, First Deputy Managing Director, International Monetary Fund what could be the world economy post crisis and how one can find their answers.read him here
"Growth prospects for emerging economies also have been undermined by the latest developments. Still, the new IMF forecast anticipates that activity in emerging economies will expand by 5 percent in 2009, although with considerable regional variation. Thus, it is expected that emerging economies will account for 100 percent of global growth next year. It is also true, however, that even this newly reduced forecast can't be taken for granted, as the downside risks to growth, even for the emerging economies, remain significant. Thus, actions to be taken by emerging economy authorities to bolster confidence in the appropriateness of their policies, as well as efforts by the international community to provide necessary financial support in this moment of crisis, will be critical in order to attain the hoped-for revival of global growth by 2010".
He ends his speech by saying that IMF stands ready to use its financial resources and expertise to help pave the way toward a more resilient post-crisis global economy.
Photo courtesy : imf.org
complete text at http://www.imf.org/external/np/speeches/2008/111708.htm