Imbalances to gradually decline despite turmoil
The unwinding of global imbalances is still likely to continue gradually in spite of the increased risks posed by the recent financial turmoil, says John Lipsky, the first deputy managing director at the International Monetary Fund (IMF).
"Global risks attached to imbalances are being re-evaluated in light of recent financial turmoil and oil price gyrations. A key consideration is whether recent developments, including exchange rate shifts, have been supportive of attaining our dual goals,"
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