IMF senior official calls for "building defenses" against next economic downturn

    Source: Xinhua| 2019-01-18 02:44:11|Editor: yan
    Video PlayerClose

    WASHINGTON, Jan. 17 (Xinhua) -- A senior official from the International Monetary Fund (IMF) on Thursday said recent signs of slowing global growth should underline the "imperative" to prepare for the next economic downturn, and urged global economies to "shore up their defenses" now.

    In a blog post on its website, IMF's First Deputy Managing Director David Lipton said the global economy faces a number of complex challenges, including technological change, globalization, the lingering effects of the 2008-2009 financial crisis, and lower levels of trust in both national and multinational institutions.

    "These developments threaten to fragment the international order that has governed the global economy," said Lipton, who has held the IMF position since 2011.

    The World Bank said last week that global economic growth is projected to slow to 2.9 percent in 2019 from a downwardly revised 3 percent in 2018 amid rising downside risks.

    Pointing out that history suggests a downturn is "somewhere over the horizon," Lipton said it is imperative to prepare for "unexpected developments," and "mitigate the impact" when the next economic downturn arrives.

    The "defenses" Lipton suggested comprise financial firepower, policies to fight crises, and regulatory regimes, many put in place after the global financial crisis.

    Lipton, however, noted that there is no guarantee that such measures will be sufficient to keep a "garden variety recession" from becoming another "full-blown systemic crisis."

    He said that national policy options, monetary or fiscal, and public financial resources may be much more "constrained" than in the past. For example, high debt levels in many advanced economies leave the governments little room in their budgets to respond to economic slowdown as they did 10 years ago.

    "The right lesson to take from that possibility is for each country to be much more careful to sustain growth, to limit vulnerabilities, and to prepare for whatever may come," he said.

    Lipton also stressed the importance of "multilateral preparedness and action," noting that the ability for institutions such as the IMF to respond effectively to these challenges has required a constant process of reform that needs to continue.

    "This will become all the more important if national policy tools prove insufficient to meet a crisis," he added.

    TOP STORIES
    EDITOR’S CHOICE
    MOST VIEWED
    EXPLORE XINHUANET
    010020070750000000000000011105521377526801
    主站蜘蛛池模板: 玉蒲团2之玉女心经| 91午夜精品亚洲一区二区三区| 欧美妇性猛交视频| 午夜男女爽爽影院网站| 欧美色图在线观看| 大bbwbbwbbwvideos| 中文字幕看片在线a免费| 黄色91香蕉视频| 日本成本人视频| 亚洲国产老鸭窝一区二区三区| 精品国产午夜福利在线观看| 国产成人啪精品| 91久久打屁股调教网站| 岛国大片免费在线观看| 久久免费视频99| 樱桃视频高清免费观看在线播放| 国产精品国产免费无码专区不卡 | 91精品免费不卡在线观看| 成人国产精品2021| 久久无码人妻一区二区三区午夜| 欧美最猛黑人xxxx黑人猛交98| 免费看黄色毛片| 草莓视频网站入口| 国产无套露脸大学生视频| 97久久天天综合色天天综合色| 很黄很黄的网站免费的| 久久精品中文闷骚内射| 欧美怡红院在线| 亚洲色图欧美色| 精品人妻无码专区中文字幕| 国产亚洲欧美在线播放网站| 亚洲色图欧美激情| 国内xxxx乱子另类| 一区二区三区在线免费看| 无码午夜人妻一区二区不卡视频| 乱小说欧美综合| 欧美性xxxx极品hd欧美风情| 亚洲精品无码专区在线| 看一级毛片**直播在线| 可以免费观看一级毛片黄a| 韩国五感图r级无删减版|