IMF says global unemployment still to peak
Global unemployment will continue to grow for another 8-12 months until economic recovery is stable, according to International Monetary Fund (IMF) managing director Dominique Strauss-Kahn.
The lag would be particularly problematic for low income countries, he said: “The problem we are going to face in the coming year may be much more important, much more difficult to solve in low-income countries and some emerging countries than in advanced economies [because] it goes to a question of life and death, or starvation.”
Strauss-Kahn indicated that the World Bank needed to be well-funded to assist developing and underdeveloped countries. “What the World Bank, and for a much more limited part, the IMF can provide to these countries will be absolutely critical and that’s why the question of resources is so important,” he said.
Got something to say? Join the export forum here at DynamicExport.com.au.
