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STORY: IMF / IMFC WRAP
TRT: 3:25
SOURCE: IMF
RESTRICTIONS:NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 14 OCTOBER 2017, WASHINGTON, DC
1. Wide shot, IMF governors gathering for photo
2. Tilt down, IMF governors to Lagarde talking with Schäuble
3. Close up, photographers
4. Wide shot, IMF governors posing for photo and start to leave
5. Various shots, officials before IMFC meeting
6. Med shot, Lagarde in hall before meeting
7. Various shots, IMFC Chair Agustín Carstens gavels meeting to order
8. Wide shot, opening of IMFC meeting
9. Pan right, IMFC meeting
10. Wide hot, IMFC meeting
11. Wide shot, Lagarde at the podium
12. Med shot, photographers
13. SOUNDBITE (English) Christine Lagarde, IMF Managing Director:
“It is when the sun is shining better that we need to fix the roof. And, I think each and every country in the room, 189 members, are going to go home, I hope, looking at their own house. Looking at what part of the roof needs a bit of fixing, whether it’s fiscal policy, monetary policy, or the structural reforms that were difficult to do in hard times and will be much easier in better times because the output is stronger and because there is less of fatigue.”
14. Wide shot, reporters
15. SOUNDBITE (English) Christine Lagarde, IMF Managing Director:
“We have slightly downgraded India, but we believe that India is for the medium- and long-term on a growth track that is much more solid as a result of the structural reforms that have been conducted in India in the last couple of years. Now, of course, the demonetization that took place, of course, collapsing 40 different taxes into one single GST is a monumental effort. And, given the implementation associated with it, it’s hardly surprising that there is a little bit of a short-term slow-down as a result. But, for the medium-term we see a very solid track ahead of the Indian economy.”
16. Wide shot, photographers and journalists
17. SOUNDBITE (English) Agustín Carstens, IMFC Chair:
“Mexico definitely is negotiating in good faith, with the expectation of reaching an agreement. NAFTA has been tremendously important for the Mexican economy. And, as Christine just said, there is plenty of room to modernize NAFTA, to make it fairer and productive for the three countries. So, we’re betting and expecting a win-win situation.”
18. Wide shot, IMF officials at end of news conference
The world’s financial leaders vowed to work together in a “window of opportunity” to promote the global recovery as the International Monetary and Financial Committee gathers in Washington for its Annual Meetings.
Leaders are looking to boost cooperation and communication to move the global economy to more sustainable growth.
The International Monetary Fund’s (IMF) policymaking body met in Washington on Saturday (14 Oct) and issued a communique calling for cooperation to secure the recovery, promote inclusion, and expand opportunities.
After the meeting of the International Monetary and Financial Committee (IMFC), the IMF Managing Director Christine Lagarde told reporters “it is when the sun is shining better that we need to fix the roof. And, I think each and every country in the room, 189 members, are going to go home, I hope, looking at their own house. Looking at what part of the roof needs a bit of fixing, whether it’s fiscal policy, monetary policy, or the structural reforms that were difficult to do in hard times and will be much easier in better times because the output is stronger and because there is less fatigue.”
In a news conference at the close of the meeting, Lagarde also discussed India’s economic progress.
Lagarde said “we have slightly downgraded India, but we believe that India is for the medium- and long-term on a growth track that is much more solid as a result of the structural reforms that have been conducted in India in the last couple of years. Now, of course, the demonetization that took place, of course, collapsing 40 different taxes into one single GST is a monumental effort. And, given the implementation associated with it, it’s hardly surprising that there is a little bit of a short-term slow-down as a result. But, for the medium-term we see a very solid track ahead of the Indian economy.”
IMF officials stressed maintaining global cooperation and the importance of trade. IMFC Chair Agustín Carstens expressed optimism that efforts to renegotiate the North American Free Trade Act will be successful.
He said “Mexico definitely is negotiating in good faith, with the expectation of reaching an agreement. NAFTA has been tremendously important for the Mexican economy. And, as Christine just said, there is plenty of room to modernize NAFTA, to make it fairer and productive for the three countries. So, we’re betting and expecting a win-win situation.”
The 2018 Annual Meetings of the World Bank and IMF will be in Indonesia. Lagarde said the choice of location reflects confidence in the host nation.
