Global Challenges, Global Solutions

IMF Blog, April 14, 2011

Source details

Event: IMF-World Bank Spring Meetings in Washington DC.
Theme: "global challenges that require global solutions".
Timing: April 14, 2011.
Audience: Government ministers and officials, members of civil society organizations, journalists, and others "flocking to Washington DC this week to discuss and decide on key issues facing the global economy."
IMF releases timed to meetings: "latest assessments of the world economic outlook and global financial stability, as well as an updated look at the outlook for government debts and deficits."

Notable admonition: this is "not the time for complacency."
Core task: "to rebuild the foundations of stability, to make them stand the test of time, and to make the next phase of globalization work for all."
Three core areas for rebuilding:
- "a new approach to economic policies,"
- "a new approach to social cohesion,"
- "a new approach to cooperation and multilateralism."
On employment and equity: the Managing Director emphasized "the need to sustain recovery through employment and equitable growth" and warned that "unemployment and inequality can undermine the very achievements of the market economy, by sowing the seeds of instability."

Global imbalances.
Capital controls.
Reform of the international monetary system.
The global jobs crisis and policies to sustain recovery through employment and equitable growth.

Interview referenced: Reza Moghadam—head of the IMF’s Strategy, Policy, and Review Department—discusses "how recent global events will feed into the meetings," including global imbalances, capital controls, and reform of the international monetary system, and whether to expect any big decisions from the meetings.
Embedded video reference: [brightcove vid=900526246001&exp3=45533486001&surl=http://c.brightcove.com/services&pubid=45228659001&pk=AQ~~,AAAACofWkTk~,d-cWVfCeeBH2u4-MzWQrjKX5_f_MoDWg&lbu=http://www.imf.org/external/mmedia/view.aspx?vid=900526246001&w=300&h=225]

Blog: IMFBlog is "a forum for the views of the International Monetary Fund (IMF) staff and officials on pressing economic and policy issues of the day."
IMF description: "The IMF, based in Washington D.C., is an organization of 191 countries, working to foster global monetary cooperation and financial stability around the world."
Disclaimer: "The views expressed are those of the author(s) and do not necessarily represent the views of the IMF and its Executive Board."

Source: Global Challenges, Global Solutions — iMFdirect, April 14, 2011.