Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

No strategy and a beige suit

Read more

THE WORLD THIS WEEK

The World This Week - 29 August 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - 29 August 2014

Read more

ENCORE!

Alain Choquette: A Hilarious Magician in Paris

Read more

FOCUS

France welcomes Iraqi Christian refugees

Read more

FRANCE IN FOCUS

Emmanuel Macron: A new economy minister with a pro-business agenda

Read more

THE OBSERVERS

More of this year's best Observers stories

Read more

#TECH 24

Changing the world, one video game at a time

Read more

IN THE PAPERS

Socialist Party summer conference kicks off in explosive atmosphere

Read more

  • EU leaders choose Tusk and Mogherini for top jobs, discuss Russia sanctions

    Read more

  • Austerity row overshadows French Socialist’s annual rally

    Read more

  • UN peacekeepers battle jihadists in Golan Heights

    Read more

  • Egypt sentences Brotherhood leader Badie to life

    Read more

  • Ceasfire allows Gaza families to relax on the beach

    Read more

  • S. Africa condemns 'military coup' in Lesotho

    Read more

  • Kerry calls for 'coalition of nations' to battle IS militants

    Read more

  • Ukrainian plane with seven on board crashes in Algeria

    Read more

  • Exclusive: Fabius warns Russia of more sanctions

    Read more

  • IMF backs Lagarde amid French corruption probe

    Read more

  • Ebola drug ‘ZMapp’ heals all monkeys in study

    Read more

  • British killer escapes from French psychiatric hospital

    Read more

  • Police hunt for British boy with brain tumour taken to France

    Read more

  • Ukraine to relaunch NATO membership bid

    Read more

  • Suriname leader’s son pleads guilty to courting Hezbollah

    Read more

  • Mapping Ukraine: Canada and Russia in ‘tweet for tat’ row

    Read more

  • France shines in IMF list of world’s promising economists

    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)