Friday, October 9, 2015

The IMF's annual meeting was gloomy atmosphere

In Peru, leaden sky, the IMF report published a series of diffuse, gloomy mood. The group cut its growth forecast of this year, and warned that serious financial risks are enveloped in the global economy. The IMF now expects the global economy will grow by 3.1% this year, it will be the 2007-08 financial crisis and then many big economies of the slowest growth since the recession.

For the global economy this pessimistic view of proof of data obtained in the past week the United States and Germany. Before September has been remarkably resilient U.S. labor market showed signs of slowing, and German exports and industrial output by the downturn in emerging economies such as China.

"From the IMF meetings can see clearly that the risks in the global economy is on the rise," the chancellor of the exchequer, George Osborne, in the IMF and World Bank annual meeting of the clearance yesterday told reporters.

There are some people worry that the world's response too zero cracking. The IMF managing director Christine Lagarde urged countries to adopt new formula to response to the downturn, stimulate economic growth. Guarding a few bright spots in the global economy of the us Treasury secretary Jack Lew, you are welcome to criticize the other industrialized countries have questioned their "determination" to do more to stimulate economic growth. This bisexual people told reporters: "in Europe and Japan... in terms of demand and structural reforms must have more things to do. Obviously there are more action space. The question now is whether determination."

China's finance minister, Mr Lou said yesterday that the world needs the coordination of monetary and fiscal policy. In a sense, all parties in Lima meeting mood relaxed, the reason is you think, the Chinese authorities has shrugged off the summer lead to world market turmoil, panic, they have to control their economies - on the message and reform from the intention. During the whole week, in Peru and central hall adjacent to the venue of the convention and exhibition center and the national museum, Chinese officials have been trying to placate international peers. "I would say, 'don't worry about it,'" the people's bank of China (PBoC), vice governor yi gang said in a meeting earlier this week. He insisted that China is still basically in the next period of time in keeping high growth track.

If the message is one of the world economy is being more and more challenges facing emerging economies into a slower growth path, so some officials are keen to point out that the global economic recovery continues. "I think we should first of all remind ourselves that growth reached 3.1%," she said. "Recovery continues... we just say it's a bit slow."