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Posted on 02/24/2016 8:28:54 PM PST by BenLurkin
The report was prepared for senior G20 officials who are meeting in Shanghai later this week amid falling equity markets, volatile currencies and signs of economic weakness throughout the world.
"The G20 must plan now for coordinated demand support using available fiscal space to boost public investment," IMF staff said in the report.
The Shanghai meeting is already being compared to the G20 meeting in April 2009 when officials agreed on coordinated stimulus to prevent a worldwide depression during the global financial crisis.
U.S. Treasury Secretary Jack Lew downplayed expectations of a G20 emergency plan this week, telling Bloomberg Television that some world economies were doing better than thought and that investors should not "expect a crisis response in a non-crisis environment."
...
Investor cash rushed out of poorer or underperforming economies and into the United States in the run-up to the U.S. Federal Reserve's interest rate hike in December, which ended seven years of near-zero rates.
That weakened emerging market currencies, making their exports more expensive at a time when global demand for commodities had also fallen.
In January, the IMF cut its forecast for 2016 global economic growth to 3.4 percent from 3.6 percent. The staff report on Wednesday said another downgrade was likely in April.
The IMF staff also called on advanced economies to rely less on monetary policy and more on fiscal policy to support economic growth. They said emerging market economies should adopt flexible exchange rates when feasible and use foreign exchange interventions only on a temporary basis.
(Excerpt) Read more at reuters.com ...
Maybe the UN can get involved too. They’re very helpfull and clever. Put their best minds on it.
The more governments intervene, the worse the economy gets.
Galactic, needs to be galactic. We need to get those SETI people on board with the idea that somewhere in the universe is a race of beings who would be ever so happy to just give us their currency in exchange for....Hmmmm.
Translated, all of the G20 nations see the global economic depression they created is now fast approaching.
that was sarcasm. The only things the UN “diplomats” are good for is DUI-related hit and runs and child rape. They couldn’t outthink their way out of a wet paper sack. The world economies are being intentionally manipulated to fail.
They are desperate to hold off the coming meltdown until after the election. Davos wants Hillary more than ever.
tick tock
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The Treasury will fire up the printing presses. Prop up the stock market, bail out bank debts all while doing nothing for the underlying economy.
Didn’t Bam Bam already do that 6 years ago?
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