The IMF is currently drawing attention to the problems of the world economy. Unfortunately, only several major economies are paying attention to this alarm.
The IMF’s recent report on the world economy has revealed another weakening baseline. Notwithstanding the global economy still keeps expanding, risk of the world economic disaster is getting more real.
The IMF has already warned central banks governors as well as finance ministers of the G-20’s grand gathering last month in Shanghai, downgrading its April’s outlook for the world economy.
Christine Lagarde, the Managing Director, announced a coordinated effort was urgently required. She urged governments with extra funds to increase their spending. Moreover, the G-20 members were requested to boost delivery of long-term economic overhauls.
Despite the G-20’s huge joint-stimulus effort in 2009 to withstand the financial downtime wreaking havoc around the world, IMF members are currently at odds regarding the severity of the issue and how to tackle it. Unfortunately, this attitude might jeopardize the world economic expansion.