IMF’s David Lipton emphasized the importance of interconnectedness and urged those who ask for it to be open to addressing the legitimate concerns of people who are feeling displaced.
Lipton also added that the members were more optimistic because growth has been recovering and the momentum of the global economy has been improving. He also explained that the membership was a little concerned whether the economic risks, the political and geopolitical risks might undermine, or even derail the recovery.
David emphasized that the Fund’s message on growth is a two-part message: Steps need to be taken that will strengthen and protect the growth momentum, and it should not be assumed that this growth will continue if the discontent around interconnectedness is intensified. Therefore, the IMF has been focusing on subjects like gender and other forms of inclusion, dealing with inequality, and many other subjects needed to address the negative side-effects of interconnectedness for retaining the social and political consensus.
Regarding anti-globalization, Lipton said that it is clear that advanced economies are experiencing the discontent more than emerging economies because in those countries there have been winners and losers.
The ultimate message of the Fund is that we do need to preserve interconnectedness, but those who ask for it, have to be open to addressing the legitimate concerns of people who are feeling displaced and threatened by the change in their countries and markets. At the same time, the advanced economy countries have to recognize how important continued interconnectedness is to the rest of the world.
How to advocate for the work life you want after COVID-19
The work from home policies caused by the COVID-19 pandemic have shown some companies that they can fully function without...
Crowdfunding seen as an innovative post-crisis financing mechanism in Tunisia
Countries around the world are struggling to find new ways to revive their economies deeply affected by the COVID-19 health...
Why the Fintech sector in Italy has to be further developed
The annual update of the continuous monitoring of the FinTech innovation ecosystem in Italy, the result of the three-year collaboration...
Beyond gaming: how real-life applications put virtual reality and Zadar Ventures Ltd. into the spotlight
Virtual reality has helped us find a way to get around the challenges of doing almost everything remotely. Zadar Ventures...
The Monero software update is ready to be used by miners
The Monero protocol update, also called Nitrogen Nebula, was announced on the Monero blog on May 23rd. The integration of...
Featured6 days ago
The Italian cryptocurrency exchange Young opens its second financing round
Business7 days ago
How to evolve your business model as times change
Business2 days ago
Why Inca One’s online bullion store is a game changer for resource investors
Featured5 days ago
The turmoil in the stock markets continues