The International Monetary Fund (IMF) called on all players to cooperate closely to improve the global economy Thursday before 2012 IMF annual meetings as the global economy recovered slowly than the IMF's forecast in April due to many uncertainties. "The biggest difference from the spring meeting, is the IMF found the slowdown of growth is not only affecting the advanced economies, but also the emerging markets for
the correlated effect, particularly in Asia," Christine Lagarde, IMF Managing Director, told a press conference.
Right actions with long-term view have been done by some central
banks in euro area, and IMF received the good signals and consider
them a good opportunity to seize as much uncertainties, in every
corner of the world, preventing the decision makers from investing,
creating jobs and developing values.
Speaking of the emerging markets, Lagarde said, there are also
many challenges, so they need to keep a close watch on the
vulnerabilities of both of the domestic market and the external
market.
Looking into the future, IMF suggested there are four key
policies for all members to do to make the economy keep going
forward.
Firstly, continue to complete the financial sector reform making
the finical sector safer, as the safety have not improved much yet
than five years ago. And then, countries should deal with the legacy
of high debt, especially in the advanced economies, which have
extremely high level. Policy makers also need to expand the
employment on creating the condition for economic growth, because
the jobless rate among young people is unacceptable. Finally, all
members of IMF should face the global unbalance, which is the topic
has been talking for a long time.
Lagarde said the annual meetings of IMF could provide a broad
platform for players and cooperation is the thing most needed,
because the global economy is a cooperative game.
