The Hindu Business Line : Revival shouldn’t be mistaken as end of eco crisis: IMF

NEW DELHI: The signs of revival in the global economy should not be confused with the financial crisis being over and the countries should be ready with policies to sustain the recovery, multilateral lending agency IMF has said.

“The current numbers should not fool governments into thinking that the crisis is over,'' IMF Chief Economist Olivier Blanchard said while releasing the World Economic Outlook. He also asked countries around the world to coordinate policies to achieve a global rebalancing and sustain the recovery.

Olivier's remarks assume importance in the event of G-20 nations agreeing not to withdraw stimulus packages prematurely and coordinate actions among themselves in this regard. IMF in its outlook for the global economy has said that global activity is now on the rise again. However, the world economic growth is expected to be in the negative zone of 1.1 per cent in 2009, according to IMF. This is after, the Fund revised up its outlook on world economic growth by 0.3 percentage points for the current cale ndar year. The global economic growth is expected to reach 3 per cent by next year. - PTI

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