IMF Warns Global Economy At Risk, Calls For Bold Action

[Purveyor]

Source: REUTERS

By David Brunnstrom and Leika Kihara
WASHINGTON Sat Oct 11, 2014 2:42pm EDT

(Reuters) - The International Monetary Fund's member countries on Saturday said bold action was needed to bolster the global economic recovery, and they urged governments to take care not to squelch growth by tightening budgets too drastically.

With Japan's economy floundering, the euro zone at risk of recession and the U.S. recovery too weak to generate a rise in incomes, the IMF's steering committee said focusing on growth was the priority.

"A number of countries face the prospect of low or slowing growth, with unemployment remaining unacceptably high," the International Monetary and Financial Committee said on behalf of the Fund's 188 member countries.

The Fund this week cut its 2014 global growth forecast to 3.3 percent from 3.4 percent, the third reduction this year as the prospects for a sustainable recovery from the 2007-2009 global financial crisis have ebbed, despite hefty injections of cash by the world's central banks.



Read more: http://www.reuters.com/article/2014/10/11/us-imf-economy-idUSKCN0I00P220141011

[valerief]

1. You mean the richest people might lose money??? Heaven forbid.

Of course, everyone will continue to get poorer anyway, cuz, like, that's how the world works.

[arcane1]

2. It's hard to recover when the 1% keep everything.

But we're trying!

[JaneyVee]

3. We told ya so!

[valerief]

4. If only the good guys had the guns. nt

[Nay]

5. Oh, please! Crocodile tears! The IMF is the CAUSE of the meltdown.... nt

[ewagner]

8. Agreed

these are the same a-holes that forced/imposed/blackmailed to get countries to adopt austerity budgets/

[MannyGoldstein]

6. My goodness! We need more austerity, and quickly!

Regards,

TWM

[GeorgeGist]

7. Lousy economic systems ...

produce lousy results.

What a surprise.

[L0oniX]

9. Time for a new puppet show?

[Paolo123]

10. and by bold action they mean give trillions of dollars to the banks for free.nt

[Vincardog]

11. "ebbed, despite hefty injections of cash by the world's central banks" proving that giving the

Obscenely Rich more money does nothing of benefit to any67one besides the .001%

[AngryAmish]

12. Quick, give the banks more of our wealth!

[lovuian]

13. Economics 101 when only a few own the assets

of a country and the rest of the population are slaves

You will have a Depression

[merrily]

14. So many nations governed by fiscal conservatives