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.
The liquidity crisis of the SME triggers the race of the Italian fintech companies
The pandemic does not affect the fintech sector, which, on the contrary, is growing. While large money management and insurtech...
The talent crowdfunding of Smartika to finance the studies of young people is starting
Smartika has recently launched a talent crowdfunding campaign. To operate in this area, the peer-to-peer lending company Smartika has signed...
Who benefits from Guinean bauxite?
The overall contribution of the extractive sector to Guinea's GDP is around 15%, and represents only 32% of government revenue,...
88% of the French people are satisfied with the discovery of the COVID-19 vaccines
A recent study conducted in France by Stratégies and Leyton shows that 88% of the French people are happy that...
How to identify customer tastes? Wine innovation may hold the key.
Understanding your customers’ preferences is key to establishing a strong client relationship. Being able to predict what they will enjoy,...
Business7 days ago
Why switching your business to online will bring you benefits: 5 steps to follow
Biotech7 days ago
Cornea Project opens financing round and creates a subsidiary to reach the US
Africa6 days ago
The Burkinabe cotton industry is in full development
Business5 days ago
Why small caps and value stocks appear to be now outperforming