Istanbul: The International Monetary Fund on Sunday endorsed a Group of 20 programme for sustainable global economic growth, including an increase in voting rights for under-represented countries.
"We welcome the outcomes of the G20 summit Pittsburgh
and support its commitment to articulating policies for
strong, sustained and balanced growth in the global economy,"
the IMF's policy-setting International Monetary and
Financial Committee (IMFC) said after a meeting in Istanbul.
The G20 largest rich and emerging-market economies,
meeting in the US city a little more than a week ago, asked
the IMF to shepherd their coordinated programme to build
sustained growth as the world economy recovers from the
worst recession since World War II.
"We call on the fund to assist the G20 mutual
assessment by developing a forward-looking analysis of whether
polices are collectively consistent with more sustainable and
balanced trajectories for the global economy," the IMFC
said in a statement.
The committee, which represents the
Washington-based institution's 186 member nations, also
pledged to maintain stimulus support of growth and provide
further support if needed.
"We commit to maintaining supportive fiscal,
monetary and financial sector policies until a durable recover
is secured," it said, adding that members "stand ready to act
further as needed to revive credit, recover lost jobs, and
reverse setbacks in poverty reduction."
Bureau Report
First Published: Sunday, October 04, 2009, 19:43