IMF Panel Calls for ‘More Forceful’ Policies to Boost Growth
- Says `risks to the global economic outlook have increased'
- Voting review to increase power of developing nations in IMF
An overall view as participants attend the International Monetary Fund Committee (IMFC) plenary session during the spring meetings of the International Monetary Fund (IMF) and World Bank in Washington, D.C., U.S., on Saturday, April 16, 2016. Group of 20 economies threatened yesterday to penalize tax havens that donÕt share information on their banking clients, after the leak of the Panama Papers provoked a global uproar over tax evasion.
Photographer: Drew Angerer/BloombergGlobal finance ministers and central bankers pledged to step up their efforts to support growth, as chances rise of a broader slowdown and risks including refugee crises and a potential U.K. exit from the European Union threaten the world economy.
“Downside risks to the global economic outlook have increased since October, raising the possibility of a more generalized slowdown and a sudden pull-back of capital flows,” the International Monetary Fund’s top policy advisory committee said in a statement following a meeting on Saturday in Washington. To achieve strong global growth, “we will employ a more forceful and balanced policy mix,” the panel said.