Economy
Thursday 04 February 2016
The continuing fall in oil prices, the oil-producing countries are under increasing pressure: IMF chief Lagarde wants these countries to help now, but also urges people to help themselves. to subsidize the oil industry by the state, is the wrong way.
Given falling oil prices, the International Monetary Fund (IMF) funding scheme concerned States has offered to help. “The IMF is open to all members,” said IMF chief Christine Lagarde. They also called for the hats partly high government subsidies for the oil industry and instead to use the money for financial safety nets. “The subsidies are totally counterproductive in this situation,” Lagarde said in Washington.
Some countries that have been affected by the recent oil price decline of up to 70 percent have responded with a robust policy on the crisis. She called the ex-Soviet Republic of Azerbaijan as a positive example. “There is a good fiscal policy, the exchange rate is used as a buffer,” Lagarde said. In countries like Nigeria one is not ready yet. The IMF was ready to help. “They are victims of an external shock,” said Lagarde. There is the IMF no stigma.
The situation in China, where the economy is transformed more of pure industrial production towards trade and services, see Lagarde left. “We do not expect a hard landing in China,” said the IMF chief. China must be prepared to build a strong macroeconomic framework and lower, but to accept more sustainable growth rates.
Lagarde calls for solidarity of the industrialized countries
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She called on China to fiscal measures to communicate well. “We all need reliability, which markets more than any other.” The different rate in the monetary policy of the major industrial countries also bring problems for emerging markets themselves. At the same time necessarily affects everything abspiele in the countries on the industrialized countries of warned Lagarde. Finally, the emerging economies were becoming increasingly important for the rich countries not only as customers but also as an investment location.
More than 80 percent of global growth since the financial crisis of 2008 came from countries such as China, India and Brazil. That helped industrialized countries to overcome the crisis. If many emerging economies have problems now, the rich countries are in demand. As a particular problem called Lagarde that in 2015 alone, net $ 531 billion were drained of capital from the emerging economies in Asia and Latin America – the year before these countries experienced even $ 48 billion capital inflow
Source: n-tv.de
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