Imbalances: this time it's different, says Blanchard


A global recovery is underway, but such optimism will prove short-lived if global imbalances are not redressed.

Speaking in Istanbul at the launch of the World Economic Outlook, Olivier Blanchard, the chief economist at the International Monetary Fund (IMF) stressed that global rebalancing needs to be a success for recovery to be sustained.

Many officials view the global imbalances that built up in the years following the Asian financial crisis of 1997 as the underlying cause of the financial cr

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