Wednesday, October 7, 2009

IMF Leader Is Heartened

Dominique Strauss-Kahn,Managing Director of the International Monetary Fund,says the global economy is recovering,but unemployment usually lags by 10 months or more,and we shouldn't be too optimistic.Moreover,there are some possibilities of a double dip.It's not the main scenario in which we believe,but it may happen,Mr.Strauss-Kahn cautioned.
When the good news started in April,he was initially concerned countries would start unwinding stimulus packages too early.He's now heartened,the IMF executive said.I know that we will go on pushing the public support to demand until private demand will take over.I'm reasonably confident that growth will resume,but countries are exiting stimulus strategies on their own,without coordinating for an international response,pose a big risk.Exit strategies must be coordinated as much as possible,Mr.Strauss-Kahn insisted.
The IMF is an autonomous UN agency that works to further global monetary cooperation,currency stability and international trade.It's headquarters are in Washington,D.C.

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