IMF LogoPolicymakers worldwide should embrace more spending to help revive their stuttering economies, the head of the International Monetary Fund said on Friday at Russia’s annual Gaidar economic forum. “In terms of policies for right now, very unusual for the IMF, starting in March I would go out and I would say: ‘please spend’. Spend as much as you can and then spend a little bit more,” Georgieva said. Read MoreGeorgieva praised Russia’s synchronised response to the economic challenges created by the COVID-19 pandemic, mentioning both the central bank’s monetary easing and fiscal stimulus from the finance ministry. “IMF staff calculated that a coordinated G20 fiscal stimulus in green infrastructure, if it is done in a coordinated manner, would deliver two-thirds more in growth ... than if each country acts on its own,” she said.

Source: Standard Digital January 15, 2021 20:26 UTC