IMF / INCLUSIVE GROWTH POLICY

The International Monetary Fund (IMF) Chief Spokesperson Gerry Rice said Thursday (10 November) that the US election showed that people there were concerned about the same inclusive growth policy that the IMF has been promoting for years. IMF

• Categories: News & Features / News Stories / Unifeed
• Video Length: 00:02:40
• Production Date: 10 November 2016
• Asset Language: English
• Corporate Name: INTERNATIONAL MONETARY FUND - IMF
• Subject Topical: ECONOMIC CONDITIONS; ELECTIONS
• Geographic Subject: UNITED STATES
• MAMS Id: 1772420
• Parent Id: 1772420
• Alternate Title: unifeed161110e

Description

STORY: IMF / INCLUSIVE GROWTH POLICY
TRT: 02:40
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 10 NOVEMBER 2016, WASHINGTON, DC

Shotlist

1.Wide shot, briefing room
2.SOUNDBITE (English) Gerry Rice, Chief Spokesperson, International Monetary Fund (IMF):
“We have been saying for quite some time, including at the most recent annual meeting that there needs to be of course a focus on increased growth. But we have also been emphasizing equally the need for inclusive growth. There was this phrase at the annual meetings that growth has been too low for too long for too few. So we have been doing, as I think you know those who watch us, we have been doing a lot of work the last number of years on issues such as inequality for example, and how to make growth more inclusive.”
3.Wide shot, briefing
4.SOUNDBITE (English) Gerry Rice, Chief Spokesperson, International Monetary Fund (IMF):
“For many countries around the world and for many people, especially poor people around the world those policies have delivered many benefits. A lot of people have been lifted out of poverty in the last generation. But we have added and emphasized that clearly the negative side-effects of some of these globalization policies need to be taken into account more. And again that’s something we have been emphasizing for some time.”
5. Tight shot, reporters
6. SOUNDBITE (English) Gerry Rice, Chief Spokesperson, International Monetary Fund (IMF):
“We think the current policy package is broadly consistent with a primary surplus target of about 1.5 percent of GDP and that no more measures are needed if debt relief is calibrated on the basis of that target, again on the basis of 1.5 percent of GDP. So we can support a program based on a long term primary surplus target of that 1.5 percent and thus we are not asking for more austerity, more measures, provided that the program is based on that target of 1.5 percent.”
7. Tight shot, reporters
8.SOUNDBITE (English) Gerry Rice, Chief Spokesperson, International Monetary Fund (IMF):
7. Wide shot, IMF Headquarters

Storyline

The International Monetary Fund (IMF) Chief Spokesperson Gerry Rice said Thursday (10 November) that the US election showed that people there were concerned about the same inclusive growth policy that the IMF has been promoting for years.

“We have been saying for quite some time, including at the most recent annual meeting that there needs to be of course a focus on increased growth. But we have also been emphasizing equally the need for inclusive growth,” Rice said.

“There was this phrase at the annual meetings that growth has been too low for too long for too few. So we have been doing, as I think you know those who watch us, we have been doing a lot of work the last number of years on issues such as inequality for example, and how to make growth more inclusive.”

When asked if the election of Donald Trump as President of the United States was a “repudiation” of globalization, Rice said “for many countries around the world and for many people, especially poor people around the world those policies have delivered many benefits. A lot of people have been lifted out of poverty in the last generation. But we have added and emphasized that clearly the negative side-effects of some of these globalization policies need to be taken into account more. And again that’s something we have been emphasizing for some time.”

Rice also took questions at the bi-weekly news conference on the potential timing and scale of further Greek debt relief.

“We think the current policy package is broadly consistent with a primary surplus target of about 1.5 percent of GDP and that no more measures are needed if debt relief is calibrated on the basis of that target, again on the basis of 1.5 percent of GDP. So we can support a program based on a long term primary surplus target of that 1.5 percent and thus we are not asking for more austerity, more measures, provided that the program is based on that target of 1.5 percent.”

When asked about anti-corruption measures taken by the Ukrainian government, Rice praised measures taken so far, but urged authorities there to go further.

“We think this is progress, but Ukraine will need to take further decisive steps to fight corruption including by making these new institutions fully operational and bringing cases to court.”