More today from the IMF meeting in Washington
- IMF steering panel says global growth remains subdued and downside risks persist
- some new risks emerging
- easy monetary policies in developed economies have supported global growth and remain appropriate
- advanced economied need credible fiscal policies with further financial sector and structural reforms
- eventual move toward more normal monetary policy should be well-timed, carefllu calibrated and clearly communicated
- re-affirms commitment to refrain from competitive devaulations and all forms of protectionism
- global reforms including to0- big- to- fail,cross border resolution and derivatives markets need to be implemented promptly and consistently
- medium-term fiscal plans in advanced nations should be implemented flexibly to account for near-term economic conditions
- urges final ratification of the IMF 2010 reforms without delay
- remains committed to completing quota review by jan 2014. urges IMF board to adopt new quota formula
