IMF Opinion on World Economy

A senior International Monetary Fund (IMF) official called Monday for a more positive attitude in facing the world’s economic problems.

David Lipton, first deputy managing director of the Washington-based IMF, told the Asian Financial Forum in Hong Kong: “Rather than allowing ourselves to be paralyzed by pessimism, it is time to focus on more hopeful perspectives.”

“If there is good news, it is that we are busy mustering the finance to support those policies,” he said.

Lipton said joint efforts to adopt sound policies in response to the risks facing the global economic recovery were critical.

Without bold actions, Europe could be swept into a downward spiral of collapsing confidence, stagnant growth and fewer jobs, Lipton said, stressing that in today’s interconnected global economy, no country nor region would be immune from the catastrophe.

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