IMF Backpedals on Austerity | Common Dreams

Speaking in Tokyo at the annual IMF/World Bank meetings, IMF managing director Christine Lagarde said, “What we have observed is that when many countries at the same time adopt the same austerity measures, it creates a bigger and deeper impact on growth.”Sometimes its better to “go a little bit more slowly” in implementing the measures, and countries should “let the automatic stabilizers operate,” Lagarde stated.

via IMF Backpedals on Austerity | Common Dreams.

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