IMF / WORLD ECONOMIC OUTLOOK

In its World Economic Outlook report, the International Monetary Fund (IMF) said the global economy is picking up speed and momentum, but serious risks to growth remain. IMF

• Categories: News & Features / News Stories / Unifeed
• Video Length: 00:01:58
• Production Date: 18 April 2017
• Asset Language: English
• Corporate Name: INTERNATIONAL MONETARY FUND - IMF
• Subject Topical: ECONOMIC CONDITIONS; WORLD ECONOMY
• MAMS Id: 1869528
• Parent Id: 1869528
• Alternate Title: unifeed170418a

Description

STORY: IMF / WORLD ECONOMIC OUTLOOK
TRT: 01:58
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: APRIL 2017, WASHINGTON DC

Shotlist

RECENT – WASHINGTON DC

1. Wide shots, IMF building exterior

APRIL 2017, WASHINGTON DC

2. SOUNDBITE (English) Maurice Obstfeld, Director of Research Department, International Monetary Fund (IMF):
“Things are really looking up at the moment. We have seen a string of good economic news since the middle of 2016 and we definitely see some momentum. We expected growth to rise in 2016 but we are raising our forecast even beyond where we were a few months ago to 3.5 percent this year and 3.6 percent next year.”
3. Wide shot, Maurice Obstfeld
4. SOUNDBITE (English) Maurice Obstfeld, Director of Research Department, International Monetary Fund (IMF):
“In advanced economies and commodity exporters the medium-term outlook remains subdued because potential growth remains low. In addition there are some risks out there. An obvious one is the risk protectionism and retaliatory responses to that. But there are other risks, a very strong appreciation of the dollar could lead to financial tightening, which would have adverse effects on emerging markets.”
5. Wide shot, Maurice Obstfeld
6. SOUNDBITE (English) Maurice Obstfeld, Director of Research Department, International Monetary Fund (IMF):
“Policy makers really need to raise their game in several respects. The open world trading system has promoted growth over decades, especially in emerging markets but the gains have been distributed too unequally as have the costs of adjustment to changing technology and changing trade. Policy makers need to think about policies that will equip workforces for structural transformation, help them to adjust to all kinds of dislocations and to remain productive.”

RECENT – WASHINGTON DC

7. Wide shots, IMF building exterior

Storyline

In its World Economic Outlook report, the International Monetary Fund (IMF) said the global economy is picking up speed and momentum, but serious risks to growth remain.

IMF Research Department Director Maurice Obstfeld said there had been things “are really looking up at the moment.” He explained that there had been “a string of good economic news since the middle of 2016 and we definitely see some momentum.”

Obstfeld noted that the IMF expected growth to rise in 2016 but was raising its forecast “even beyond where we were a few months ago to 3.5 percent this year and 3.6 percent next year.”

Obstfeld also pointed to downside risks and headwinds that may slow global growth such as “protectionism and retaliatory responses to that.” He said other risks included “a very strong appreciation of the dollar could lead to financial tightening, which would have adverse effects on emerging markets.”

The IMF report released today (18 Apr) also refers to the need for policy makers to pursue programs that help people cope with shifting trade patterns and seek ways to reduce income inequality.

Obstfeld stressed that policy makers “really need to raise their game in several respects.” He said the open world trading system has promoted growth over decades, especially in emerging markets, “but the gains have been distributed too unequally as have the costs to adjustment to changing technology and changing trade.” He said policy makers need to think about policies that “will equip workforces for structural transformation, help them to adjust to all sorts of dislocations and to remain productive.”