IMF defends Asia actions<\/p>\n
WASHINGTON (Reuters): The International Monetary Fund defended
\nits policies towards Asia's tiger economies on Thursday, saying
\nthat the costs would have been higher and the slowdown faster if
\nthe IMF had not got involved.<\/p>\n
IMF First Deputy Managing Director Stanley Fischer told
\nbankers that the world's major industrialized nations were well
\npositioned to cope with the fallout of the crisis. The text of
\nhis speech was made available ahead of delivery.<\/p>\n
Thailand, Indonesia and South Korea have already received
\nbillions of dollars from the IMF, and Fischer said IMF reform
\nprograms were aimed to restore confidence in falling currencies,
\npartly by raising interest rates. \"Once confidence is restored,
\ninterest rates can fall,\" he said.<\/p>\n
He said higher interest rates would inevitably slow economic
\ngrowth, but said things would have been worse without help from
\nthe IMF, the World Bank and IMF member states.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/imf-defends-asia-actions-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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