Home / Knowledge / News / Textiles / 'Bold policies needed to boost global economy'
'Bold policies needed to boost global economy'
01
Mar '16
IMF Managing Director Christine Lagarde has called for bold, broad and accelerated policy actions to boost global economic recovery in the face of strong headwinds.

In a statement at the conclusion of the Group of 20 (G20) Finance Ministers and Central Bank Governors Meeting in Shanghai, Lagarde said, “This G20 met at a moment when uncertainty and increasing downside pressures could put at risk the global economic recovery. In response, G20 members expressed a strong sense of urgency to implement the policy actions needed to contain risks and strengthen growth.”

She said the IMF recognised the many challenges facing the global economy at present: volatile markets and capital flows; economic transition and tightening financial conditions in many countries; the large drop in commodity prices, including oil; and escalated geopolitical tensions, including the large number of refugees in some regions.

Lagarde welcomed the G20's agreement to do more to achieve a common objectives for global growth. That means using all available policy tools that includes a broad-based response at the national level as a first step. In advanced economies, this requires a mix of mutually reinforcing demand and supply policies, including continued accommodative monetary policy and supportive fiscal policies--making the best possible use of fiscal space (for example, through infrastructure spending). In emerging economies, it requires reducing vulnerabilities and rebuilding resilience--strengthening fiscal buffers and diversifying growth models in commodity-exporting countries, for example, she said.

The second step that is need, are bold multilateral actions. This requires following through on past G20 commitments and, in particular, renewed momentum this year to deliver on the goal of achieving 2 per cent additional growth by 2018. She said reinvigorated structural reforms are a critical element of the necessary policy package, and she welcomed the G20's commitment to enhance this agenda by formulating a set of principles to guide prioritization. The IMF is pleased to support this effort, Lagarde said.

“The G20 also emphasized the importance of an adequate and effective global financial safety net. The IMF has been tasked with analyzing this issue further and we will report back at the next G20 meeting in April.

“In summary, at this meeting, the G20 recognized that while the global recovery continues, it remains too weak and uneven - and falls short of our collective ambition for strong, sustainable and balanced growth. To confront this challenge, we need action now,” the IMF chief said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search