August 13, 2017

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IMFC provides focus on structural reforms to create more growth, more jobs for uneven global recovery

IMFC Chairman Tharman Shanmugaratnam with IMF Chief Christine Lagarde: IMFC called for the biggest single focus of members to lift potential growth and build a better tomorrow.  Photo: Ye Myint
IMFC Chairman Tharman Shanmugaratnam with IMF Chief Christine Lagarde: IMFC called for the biggest single focus of members to lift potential growth and build a better tomorrow. Photo: Ye Myint


By Ye Myint

Washington, D.C, 13 Oct — The International Monetary and Financial Committee (IMFC) of the International Monetary Fund told a press briefing on Saturday that it is committed to lifting potential growth and creating a job-rich global
economy with the single biggest focus on structural reforms. The IMF’s policy steering committee also pledged support for Ebola-hit countries and extension of zero interest rate loans for the low-income countries.
“Structural reform is needed to address the challenges of tomorrow”, said Singaporean Finance Minister and IMFC Chair Tharman Shanmugaratnam, adding that the onus is on all members to pick up the pace as it has been too slow.
“If we don’t focus with urgency on the reforms, we won’t solve even today’s problems”, the IMFC Chair voiced. “Our single biggest focus is to be on them that will enable us to lift potential growth and build a better tomorrow”.
In her speech, the IMF’s Managing Director Christine Lagarde highlighted the importance of the global policy agenda for growth and jobs, calling for efficient investment in infrastructure with the adequate finance institutions in place.  The IMF Chief stressed the need to deal with the immediate economic consequences of the Ebola outbreak in three countries— Guinea, Liberia, and Sierra Leone that were approved by the IMF to be provided with an immediate assistance of US$ 130 million.
She also said that she was very delighted to see the IMFC’s support for extension of zero interest rate loans for the low-income countries.

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