OECD Deputy Director: Sting Of Crisis Still Being Felt

BERLIN (MNI) – Growth in the OECD countries is slowing and the
fallout of the crisis is still affecting economies, the deputy managing
director of the OECD said Monday.

“The sting of the crisis is still being felt,” Art de Geus said in
remarks prepared for delivery at a conference here.

“The recovery, though still in progress, has become more hesitant
since the early part of the year, as support from fiscal stimulus, the
inventory cycle and the bounce from the recovery in trade has faded,” he
observed.

The immediate challenge is to guide the transition from a
policy-driven recovery to self-sustained growth, de Geus argued.

“But many risks and uncertainties persist, raising concerns that
they may threaten the recovery,” the OECD official cautioned. “To
mention just two downside risks, there is ongoing unease about public
debt sustainability in some OECD countries and global imbalances remain
wide.”

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

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