Don't miss

Replay


LATEST SHOWS

THE INTERVIEW

Erdogan to rid Turkish institutions of ‘separatist cancer’ after coup attempt

Read more

ENCORE!

The best of summer music festivals in France

Read more

FRANCE IN FOCUS

Going for gold: French athletes train for Rio Olympics

Read more

#TECH 24

Digital beauty

Read more

FOCUS

Women doctors in Pakistan challenge the status quo

Read more

BUSINESS DAILY

Trump hopes to reset America's trade relations

Read more

IN THE PAPERS

'Donald Trump's speech was just another scam'

Read more

IN THE PAPERS

Cazeneuve at the heart of Nice security controversy

Read more

EYE ON AFRICA

South Africa: Prosecutors seek longer sentence for Oscar Pistorius

Read more

Business

IMF wants more ambitious bailout plans

Latest update : 2008-12-22

IMF head Dominique Strauss-Kahn has warned that 2009 may be "darker" than expected. The institution is calling for more ambitious bailout plans and hopes for a fiscal stimulus of about 2 % of the world's GDP; in other words 1.2 trillion dollars.

AFP - The head of the International Monetary Fund (IMF) warned Sunday that the economic situation could get even worse in 2009 if governments fail to take firm enough action.
  
"Our forecasts are already very dark but they will be even darker if not enough fiscal stimulus is implemented," Dominique Strauss-Kahn told BBC radio.
  
"We see 2009 as really being a bad year, with recession for most advanced economies and growth decreasing for emerging economies."
  
The IMF has called for global fiscal stimulus of about two percent of GDP, equivalent to some 1.2 trillion dollars.
  
He added that he feared recent initiatives, including that announced by the G20 in Washington last month, may not go far enough.
  
"I can see that some measures have been announced, but I'm afraid it won't go far enough," he said.
  
Strauss-Kahn said he understood Germany's "reluctant" attitude to the steps announced by some countries including Britain but added it would be best if all countries act together to "face the recession".
  
"I respect the traditional view of the Germans but nevertheless I think we are at a time when we should be a bit more imaginative than we have been in the past," the French former finance minister said.

Date created : 2008-12-21

COMMENT(S)