IMF urges action to prevent global economy ‘stalling’ and ease central bank burden

IMF chief economist Maurice Obstfeld

Maurice Obstfeld today (April 12) called for concerted policy efforts to combat the risk of the global economy "stalling" and falling into "widespread secular stagnation".

He was speaking at the launch of the International Monetary Fund's latest World Economic Outlook, in which the fund IMF cuts its estimate for global growth to 3.2% in 2016 – 20 basis points lower than its most recent revision, in January. This should rise to 3.5% in 2017, it said.

Obstfeld, the fund's chief economist, argued

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