The IMFC stressed that countries should shift their focus from the short term to the medium term, with special emphasis on carrying out structural reforms that will support sustainable, balanced, and job-rich growth.
In an interview, Tharman Shanmugaratnam—Deputy Prime Minister of Singapore and IMFC Chair—says that we are in a new phase of recovery requiring a new balance in policymaking, focused on building resilience in growth and jobs.
New revenue streams from oil and gas would be devoted to investments in roads, railways, ports, and power, African finance officials say. They tell a news briefing that Africa’s “infrastructure gap” will have to be overcome to help achieve inclusive growth.
Growth and inequality are mutually incompatible, participants agreed at a high level seminar held during the IMF-World Bank meetings, but they differed sharply about the priorities to address the rise in inequality over recent decades.
SDR Rates for April 23
SDR Interest Rate = 0.13%| 1 USD = SDR 0.64496MORE