ΙΜF-ΔΝΤ¨"IMF Managing Director Press Conference"

IMF Managing Director Press Conference
October 6, 2016 

SPEAKERS:

Christine Lagarde
Managing Director, IMF;

David Lipton
First Deputy Managing Director, IMF;

Gerry Rice
Director, Communications Department, IMF

MR. RICE: Thank you very much. Good morning, everyone. Welcome to the 2016 Annual Meetings of the IMF and the World Bank. We are delighted to see you all this morning. We are on the record, as usual. I will ask you to be as short as possible with your questions. We will try and get as many as we can.

We have with us today the Managing Director of the IMF, Madame Christine Lagarde. We also have with us the First Deputy Managing Director of the IMF, David Lipton. We will begin in the usual way. I think you have the Managing Director’s Global Policy Agenda already. We will begin in the usual way with opening remarks from the Managing Director.

MS. LAGARDE: Good morning to all of you.

Before I go into the current economic situation, what our recommendations are and what it means for the IMF, I would like to, first of all, express our deep concern for the countries that are currently affected by Hurricane Matthew. We are very saddened by the reports of lost lives, uprooted houses, damage done, and, in particular, for Haiti, which we have been trying to serve and help recently. We stand ready. We have rapid facility lines that can be in place very promptly, and we shall certainly do whatever we can to help.

Now, not only have you had my Global Policy Agenda but you have also received the WEO, the Fiscal Monitor, and the Global Financial Sector Report. You know that we are forecasting growth in 2016 at 3.1 percent and 2017 at 3.4 percent.

The outlook for advanced economies remain subdued and the outlook for emerging and developing economies calls for some guarded optimism with great diversity between the various economies. Prospects for low‑income countries are becoming even more challenging, particularly as far as sub‑Saharan Africa is concerned.

ΙΜF-ΔΝΤ¨"Global Financial Stability Report Press Conference - 2016 IMF Annual Meetings"

Global Financial Stability Report Press Conference - 2016 IMF Annual Meetings
October 5, 2016

Peter Dattels, Deputy Director, Monetary and Capital Markets Department

Matthew Jones, Chief of the Global Markets Analysis Division, Monetary and Capital Markets Department;

Ali Al-Eyd, Deputy Chief, Global Markets Analysis Division,

Monetary and Capital Markets

Andreas Adriano, Senior Press Officer, Communications Department

MR. ADRIANO: Good morning, and welcome to this press conference of the fall 2016 edition of the Global Financial Stability Report. With us today, are Peter Dattels, Deputy Director of the Monetary and Capital Markets; Matthew Jones, assistant director and head of the global markets analysis division; and Ali Al-Eyd, deputy chief in the same division, they are the main authors of the report. Mr. Dattels will have some opening remarks and we are then happy to take your questions. We need to finish on time, because there is another press conference coming after that, which is the Fiscal Monitor. Mr. Dattels, the floor is yours.

MR. DATTELS: Thank you everybody for being here this morning. Today, we find ourselves in a low-growth, low-rate, era characterized by increased political and policy uncertainty. This is creating many challenges for banks, policymakers, and corporates, in all parts of the world. Failure to adapt to this new era could undermine the health of financial institutions and add to the pressures of financial and economic stagnation. This report analyzes these challenges and offers solutions to foster stability in this new era. Let me start with our assessment of risks.

First, some good news. Short‑term risks have declined. Six months ago we worried about Brexit and possible global repercussions. The shock of Brexit was well absorbed by markets, helped by central bank contingency plans, and monetary policy easing by the Bank of England. The impact appears more local than global. We were worried about high levels of corporate debt in emerging markets and rising risk of default. As some of the worst-hit emerging markets showed signs of recovery, and against the backdrop of further monetary easing, emerging market assets have rebounded strongly. The passing of these near‑term risks has led to a fall in volatility and a rise in equity prices in advanced economies.

But medium‑term risks are building, because we're entering a new era of challenges. Low, uneven, and unequal growth is opening the door to more populist and inward looking policies, leading to a loss of political cohesion and a rise in policy uncertainty in some countries. This could increase volatility and undermine growth.

κ. ΓΕΩΡΓΙΟΥ ΣΤΑΘΑΚΗ, Υπ. Οικονομίας, συμμετοχή στο Συμβούλιο Ανταγωνιστικότητας στις Βρυξέλλες

30/9/2016 - Συμμετοχή του Υπουργού Οικονομίας, Ανάπτυξης και Τουρισμού, κ. Γ. Σταθάκη στο Συμβούλιο Ανταγωνιστικότητας στις Βρυξέλλες στις 29/9/16


Ο Υπουργός Οικονομίας, Ανάπτυξης και Τουρισμού, Γιώργος Σταθάκης συμμετείχε στο Συμβούλιο Ανταγωνιστικότητας που πραγματοποιήθηκε στις Βρυξέλλες την Πέμπτη, 29 Σεπτεμβρίου 2016.