IMF Chief speaking on emerging and developing markets
- Softening of global growth, capital outflows and stock market declines are cause for concern
- Oil and metal prices are likely to stay low for quite some time
- Fall in prices pressuring commodity export countries
- Emerging markets could soften shocks by boosting non-commodity revenues and increasing exchange rate flexibility
- Advanced economies should support growth through accommodative monetary policy and infrastructure spending
- Important for Fed to normalise policy in a prudent and well-communicated manner
- IMF will consider broadening and strengthening precautionary financing instruments
Same old same old. If the jobs no good, get another one, if it's not working throw money at it.
The IMF: Solving the world's woes from la la land
