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Economic recovery "encouraging," but problems remain -IMF

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Despite multiple positive signs of recovery, many problems in the global economy still require international attention, the International Monetary Fund has said.

Despite multiple positive signs of recovery, many problems in the global economy still require international attention, the International Monetary Fund has said.

"Signs of a strengthening economic recovery are encouraging but many challenges remain that need to be tackled collaboratively" the International Monetary and Financial Committee of the IMF Board of Governors said in a communique.

The participants of the meeting reiterated their commitment to jointly improve economic situation worldwide, create jobs and stabilize prices.

"We are strongly committed to ensuring sustainable public finances and addressing sovereign debt risks. We call on the Fund to continue strengthening its monitoring of global economic and financial developments and providing policy advice," the document says.

The communique also hails international aid to low-income countries, and countries hit by "catastrophic disasters." It called on the states to "join international efforts to relieve Haiti's debt."

The document, as well as the recent statement of the G20 finance ministers, highlights the necessity of IMF reform "to improve the Fund's legitimacy, credibility, and effectiveness through quota and governance reforms and modernizing its surveillance and financing mandates."

The next meeting will be held on October 9 in Washington.

 

WASHINGTON, April 25 (RIA Novosti)

 

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