IMF Sees Accelerating Growth




18 Apr 2017


Washigton, DC, United States

The IMF’s latest World Economic Outlook (WEO) finds that global economic activity is picking up with a long-awaited cyclical recovery in investment, manufacturing, and trade.
1. Wide IMF officials before briefing on World Economic Outlook
2. Wide photographers and IMF officials
3. SOUNDBITE: (English) Maury Obstfeld, Chief Economist at the IMF
“A broad withdrawal from multilateralism could lead to such self-inflicted wounds as widespread protectionism or a competitive race to the bottom in financial oversight. A struggle of each against all that will leave all countries worse off. So, the world economy may be gaining momentum, but we cannot be sure that we are out of the woods.”
4. Close photographers at briefing
5. SOUNDBITE: (English) Maury Obstfeld, Chief Economist at the IMF
“Our U.S. projection does build in some degree of fiscal stimulus coming from the tax reform process. Again, if that does not materialize as expected, we would have to revise. And, the fiscal stimulus, as of now, is a work in progress. We really don’t know what the elements will be. There are many components being debated. ”
6. Mid reporter asking question
7. SOUNDBITE: (English) (English) Maury Obstfeld, Chief Economist at the IMF
“When that fiscal consolidation will occur is hard to predict. It will depend on the decisions of the leadership and their judgment about when consolidation is best. I think what we can say is that the longer the wait before fiscal consolidation occurs, the sharper fiscal consolidation may have to be.”
8. Wide reporters
9. SOUNDBITE: (English) (English) Maury Obstfeld, Chief Economist at the IMF
“Obviously, the leadership has made impressive reforms, but more needs to be done. And, with those reforms, we’re confident in China maintaining stability down the road.”
10. Mid reporter asking question
11. SOUNDBITE: (English) SOUNDBITE: (English) Oya Celasun, Head of the World Economic Studies Division
“If they are successful in implementing that, that should set the stage for returning the fiscal finances to a much healthier setting. And, also put a strong foundation for a recovery, a return to stronger growth in Brazil. And, as Mr. Obstfeld just mentioned, we’ve had some good news recently. The activity indicators for the first two months of the year have come in strong, which is quite positive news for the outlook.”
12. Wide IMF officials at end of briefing
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