Friday, September 19, 2008
The IMF on the crisis
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Ahead of the IMF's annual meeting, this is a rather good speech by John Lipsky, the IMF's deputy managing director, on the turmoil. The IMF is sticking to its forecast of roughly 4% global growth this year and next, with the low point reached towards the end of this year. Most of that growth, plainly, is in the emerging world. He sees further consolidation and shrinkage in the financial sector but thinks the global economy will remain relatively "resilient" in the face of this. The speech is here.