Thursday, October 9, 2014

IMF encourages countries to spend more on infrastructure – FAZ – Frankfurter Allgemeine Zeitung

IMF encourages countries to spend more on infrastructure – FAZ – Frankfurter Allgemeine Zeitung



                          IMF chief Christine Lagarde


The head of the International Monetary Fund (IMF), Christine Lagarde, has encouraged countries with lameness economy to invest more in infrastructure. “That can be a good way to short to support the growth,” she said in Washington. But such public investments are not only helpful to quickly stimulate the economy – they could help in the long term, to stimulate the economy and to relieve national budgets


You hope the States for which such measures are adequate, it enters its annual meeting of the IMF and World Bank from their point of view to convincing while, Lagarde said. The meeting of the 188 member countries will begin this Friday in the nation’s capital. “The members have to provide a much higher financial commitment that is directed on the growth today and tomorrow’s growth potential to increase decided,” she wrote in a strategy paper on the occasion of the event.


In its latest Economic Outlook, which was published on Tuesday, the IMF had expressly called for Germany to invest more money in infrastructure projects. The Federal Republic has restored its state budget and could not afford such expenses without violating EU deficit rules. Background is the weaker economic outlook for Germany: The IMF lowered its forecast to 1.4 percent this year. In July, she had stood at 1.9 percent.


The leading German research institutes have given a more pessimistic forecast today. They called for more money for roads and a small tax relief and even called the Minister of Finance Wolfgang Schäuble (CDU) targeted in the coming year to balance a “prestige object”.


According to Schäuble (CDU) checks the government in the face of weaker overall economic development, strengthen the investment. “We need to invest a higher priority,” he said in Washington. German Chancellor Angela Merkel (CDU) expressed similar: the government consider how additional investments could be made possible and bureaucracy can be removed


economic programs with new debt issued Schäuble here again a rejection. IMF head Lagarde stressed, however, that such expenditures calculated in the longer term for the state budgets. “It may be not only growth-friendly, but also owe friendly.”


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Also in Washington said the president of the European Central Bank, Mario Draghi, he expected early next year with a tightening credit dynamics in the monetary union. After extensive bank check by the ECB supervision, the cleaning of balance sheets and the onset of effects of recent monetary policy steps the central bank institutions may lend more, the top Euro monetary authorities said aloud speech text :. “I expect that lending will pick up early next year.”


Even before the current test the industry through the future overseer they had removed a portion of their balance problems. Since mid-2013, the supervised financial institutions in the future would have strengthened their balance sheets by around 200 billion euros.


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Because of the weak economy

IMF encourages countries to spend more on infrastructure


The head of the International Monetary Fund calls for for government assistance for the sluggish economy. The President of the European Central Bank makes some hope for the coming year.

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