World Financiers See Break in Crises
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WASHINGTON (Reuters) - World finance leaders on Saturday agreed there was a "break in the clouds" of the economic storm but said more measures were needed to ensure an end to the global recession.
"We have serious problems. We are taking very serious measures, but things are beginning to look up," said Youssef Boutros-Ghali, who chairs the IMF's steering panel, the International Monetary and Financial Committee.
"Carefully, cautiously, we can say there is a break in the clouds," said Boutros-Ghali, echoing the guarded optimism expressed a day earlier by the Group of Seven rich nations.
To ensure a recovery in 2010, an IMFC communique called for further action to restore the health of banks, revive lending and restart international capital flows. It urged countries to keep up fiscal stimulus and develop plans to exit from the extraordinary measures taken once recovery is established.
* * * * * Whether this will stick or not it's good to hear something positive for once.
"We have serious problems. We are taking very serious measures, but things are beginning to look up," said Youssef Boutros-Ghali, who chairs the IMF's steering panel, the International Monetary and Financial Committee.
"Carefully, cautiously, we can say there is a break in the clouds," said Boutros-Ghali, echoing the guarded optimism expressed a day earlier by the Group of Seven rich nations.
To ensure a recovery in 2010, an IMFC communique called for further action to restore the health of banks, revive lending and restart international capital flows. It urged countries to keep up fiscal stimulus and develop plans to exit from the extraordinary measures taken once recovery is established.
* * * * * Whether this will stick or not it's good to hear something positive for once.
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