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2011 is Year of Economic Recovery – IMF
- By Williams Ekanem
- Published January 11th, 2011
- Washington File
- Unrated
2011 is Year of Economic Recovery – IMF
“THE year of 2011 represents a pivotal year for the global economic recovery and for international policy cooperation, as well as for the role of the International Monetary Fund (IMF) in addressing these two principal challenges”, John Lipsky, first deputy managing director of the IMF, said on Tuesday.
'With the crisis of 2008 and 2009 receding, and following the unprecedented efforts expended in 2010 developing the outlines of a new, post-crisis world, 2011 will be the year in which post- crisis plans will be implemented, tested, and assessed,' Lipsky noted in a blog article which was posted on the IMF website. He believed that the 2011 economic outlook was promising, with emerging economies continuing to post strong growth. …”
Lipsky said in a statement that rising asset prices and accelerating inflation in several emerging economies are 'sparking worries about potential overheating, as well as about difficulties in coping with growing capital inflows, and strengthening currencies.' He also noted that renewed turbulence in sovereign debt markets could spill over to the real economy, saying investor sentiment in Europe is 'particularly precarious.
Taking stock of the year gone by and presenting his outlook for the coming year, Lipsky called 2010 "a year of accomplishments" and declared that the crisis is receding. He expressed hope a new model for global economic and financial governance will be underway in 2011 if the post-crisis plans drawn up last year are implemented successfully.
2011 represents a pivotal year for the global economic recovery and for international policy cooperationas well as for the role of the Fund in addressing these two principal challenges.
With the crisis of 2008-2009 receding, and following the unprecedented efforts expended in 2010 developing the outlines of a new, post-crisis world, 2011 will be the year in which post-crisis plans will be implemented, tested, and assessed. If they are deemed to be successful, it will not be an exaggeration to claim that a new model for global economic and financial governance will be underway. If unsuccessful, however, the sense of failure likely would undermine confidence while adding to the formidable list of challenges to be overcome.
“THE year of 2011 represents a pivotal year for the global economic recovery and for international policy cooperation, as well as for the role of the International Monetary Fund (IMF) in addressing these two principal challenges”, John Lipsky, first deputy managing director of the IMF, said on Tuesday.
'With the crisis of 2008 and 2009 receding, and following the unprecedented efforts expended in 2010 developing the outlines of a new, post-crisis world, 2011 will be the year in which post- crisis plans will be implemented, tested, and assessed,' Lipsky noted in a blog article which was posted on the IMF website. He believed that the 2011 economic outlook was promising, with emerging economies continuing to post strong growth. …”
Lipsky said in a statement that rising asset prices and accelerating inflation in several emerging economies are 'sparking worries about potential overheating, as well as about difficulties in coping with growing capital inflows, and strengthening currencies.' He also noted that renewed turbulence in sovereign debt markets could spill over to the real economy, saying investor sentiment in Europe is 'particularly precarious.
Taking stock of the year gone by and presenting his outlook for the coming year, Lipsky called 2010 "a year of accomplishments" and declared that the crisis is receding. He expressed hope a new model for global economic and financial governance will be underway in 2011 if the post-crisis plans drawn up last year are implemented successfully.
2011 represents a pivotal year for the global economic recovery and for international policy cooperationas well as for the role of the Fund in addressing these two principal challenges.
With the crisis of 2008-2009 receding, and following the unprecedented efforts expended in 2010 developing the outlines of a new, post-crisis world, 2011 will be the year in which post-crisis plans will be implemented, tested, and assessed. If they are deemed to be successful, it will not be an exaggeration to claim that a new model for global economic and financial governance will be underway. If unsuccessful, however, the sense of failure likely would undermine confidence while adding to the formidable list of challenges to be overcome.
