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IMF Meet in Washington

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IMF urges advanced nations to rebuild finances.International Monetary Fund has urged advanced countries to achieve fiscal restructuring to contain their debt problems.
The IMF’s International Monetary and Financial Committee issued a statement after a meeting in Washington on Saturday. The committee members include finance ministers and central bank governors of 24 member countries.The statement says the IMF welcomes the contribution of more than 430 billion dollars pledged by countries at Friday’s Group of 20 meeting to shore up the fund’s lending capacity.
The statement says the global economy is recovering gradually, but that growth expectations are still moderate and risks remain high.
The statement also says advanced economies need sustained monetary easing to support economic recovery.
It also points to risks of massive flows of funds from developed nations to emerging economies, possibly leading to high oil and other commodity prices, and calls for oversight.

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