Policymakers are achieving the art of the impossible, IMF chief says
[hfe_template id='11223']
[ad_1]
Praising what she described as "impossible" policy shifts in Germany, Britain and Argentina, International Monetary Fund Managing Director Kristalina Georgieva said on Thursday the global economy is entering a "new era." "What I have seen this week is really a whole collection of the impossible becoming possible," she told a panel on the sidelines of the IMF and World Bank spring meetings in Washington. Germany's fiscal expansion will have "very important, positive spillovers" on the rest of Europe, Georgieva said. Germany's parliament approved in March plans for a massive spending surge, throwing off decades of fiscal conservatism in hopes of reviving growth and scaling up military spending. "By injecting fiscal capacity in Germany, given that the European economy is quite integrated, that helps the rest of Europe," Georgieva said. Live Events Addressing German Finance Ministe...