“The International Monetary Fund has urged advanced economies to use “all prudent measures” to boost sluggish demand, including monetary policy, even as it trimmed 2013 growth forecasts for the global economy to 3.25 percent.
In its latest World Economic Report, chief economist Olivier Blanchard asked policymakers not to relax their efforts, but to ensure financial policies support the implementation of monetary policy.
“There is no silver bullet to address all the concerns about demand and debt. Rather, fiscal adjustment needs to progress gradually, building on measures that limit damage to demand in the short-term,” he said.
The IMF shaved its projections for global economic growth for both this year and next due to sharp government spending cuts in the U.S and the latest struggles of recession-stricken Europe.
They also cut their 2013 forecast for global growth to 3.25 percent, down from its projection in January of 3.5 percent. It also trimmed its 2014 forecast to 4.0 percent from 4.1 percent….”
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