Business News

IMF to develop "exit strategies" for state help by April (Extra)

Oct 4, 2009, 12:36 GMT

Istanbul - The International Monetary Fund (IMF) was tasked Sunday with developing principles by next spring on how governments should begin withdrawing massive state support measures in place to weather the global economic crisis. But the IMF's steering committee, made up of 25 finance ministers, also said fiscal and monetary measures should remain in place until a 'more durable' global recovery takes hold. Governments have invested hundreds of billions of dollars into their economies over the past year in an effort to head off the worst global recession since World War II. How long those measures should remain in place has been a key question for policymakers. The finance ministers said the IMF would create 'principles for orderly and cooperative exit strategies' by its next meeting in April. Finance ministers also backed a greater role for the IMF in monitoring the economies of the world's 20 major powers in an attempt to avoid future crises by bringing about more balanced growth to the global economy. Leaders of the Group of 20 (G20) last month agreed the IMF should play a key role in helping them better coordinate their policies.

Business News

IMF to develop "exit strategies" for state help by April (Extra)

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