IMF confident of fragile economy recovering
Inadequate structural reforms by growing geopolitical tensions over Ukraine and member-states would be the greatest dangers for the global economic recovery, the International Monetary Fund said in Washington on Saturday.
Deciding the spring meetings of IMF and World Bank, the Account remains comfortable, however, the still fragile recovery continues to reinforce.
Several leaders voiced concern regarding the possible effect of the Ukraine situation, particularly on Europe, that was currently experiencing danger from deflation.
The IMF also renewed its commitment to the development of the sustainable and environmentally-friendly economy and also to multilateralism.
“It was encouraging to know a few of the destruction of the surroundings by crucial value as well as the people also respect climate change which, again, encourages us to work-in that way,” said IMF chief Christine Lagarde.
However in order to attain these objectives, the IMF must implement the government reforms which were consented to this year. Disappointed from the US Congress’ refusal to do this, the IMF again strongly urged Congress to ratify these reforms from the end of the entire year.
Reporting from Washington euronews reporter Stefan Grobe said:
“The IMF’s global agenda is very formidable. Whether it may be effective, mainly depends upon the readiness of the US Congress to ratify the 2010 reforms. Washington hasn’t done so yet. As well as in an election year this seems less than likely.”