IMF / WEO PRESSER

18-Apr-2017 00:02:30
World growth is expected to rise from 3.1 percent in 2016 to 3.5 percent in 2017 and 3.6 percent in 2018, according to the latest edition of the International Monetary Fund’s (IMF) World Economic Outlook. IMF
Size
Format
Acquire
361.73 MB
HD PAL
362.3 MB
HD NTSC
167.53 MB
SD PAL
DESCRIPTION
STORY: IMF / WEO PRESSER
TRT: 02:30
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 18 APRIL 2017, WASHINGTON, DC
SHOTLIST
1. Wide shot, IMF officials before briefing on World Economic Outlook
2. Wide shot, photographers and IMF officials
3. SOUNDBITE (English) Maury Obstfeld, Chief Economist, International Monetary Fund (IMF):
“A broad withdrawal from multilateralism could lead to such self-inflicted wounds as widespread protectionism or a competitive race to the bottom in financial oversight. A struggle of each against all that will leave all countries worse off. So, the world economy may be gaining momentum, but we cannot be sure that we are out of the woods.”
4. Close up, photographers at briefing
5. SOUNDBITE (English) Maury Obstfeld, Chief Economist, International Monetary Fund (IMF): “Our US projection does build in some degree of fiscal stimulus coming from the tax reform process. Again, if that does not materialize as expected, we would have to revise. And, the fiscal stimulus, as of now, is a work in progress. We really don’t know what the elements will be. There are many components being debated.”
6. Med shot, reporter asking question
7. SOUNDBITE (English) Maury Obstfeld, Chief Economist, International Monetary Fund (IMF): “When that fiscal consolidation will occur is hard to predict. It will depend on the decisions of the leadership and their judgment about when consolidation is best. I think what we can say is that the longer the wait before fiscal consolidation occurs; the sharper fiscal consolidation may have to be.”
8. Wide shot, reporters
9. SOUNDBITE (English) Maury Obstfeld, Chief Economist, International Monetary Fund (IMF):
“Obviously, the leadership has made impressive reforms, but more needs to be done. And, with those reforms, we’re confident in China maintaining stability down the road.”
10. Med shot, reporter asking question
11. SOUNDBITE: (English) Oya Celasun, Head of the World Economic Studies Division International Monetary Fund (IMF):
“If they are successful in implementing that, that should set the stage for returning the fiscal finances to a much healthier setting. And, also put a strong foundation for a recovery, a return to stronger growth in Brazil. And, as Mr. Obstfeld just mentioned, we’ve had some good news recently. The activity indicators for the first two months of the year have come in strong, which is quite positive news for the outlook.”
12. Wide shot, IMF officials at end of briefing
STORYLINE
The IMF’s latest World Economic Outlook (WEO) finds that global economic activity is picking up with a long-awaited cyclical recovery in investment, manufacturing, and trade.

World growth is expected to rise from 3.1 percent in 2016 to 3.5 percent in 2017 and 3.6 percent in 2018. But the IMF’s chief economist said protectionism is among the remaining hazards.

“A broad withdrawal from multilateralism could lead to such self-inflicted wounds as widespread protectionism or a competitive race to the bottom in financial oversight. A struggle of each against all that will leave all countries worse off,” said Maury Obstfeld, the IMF’s chief economist.

The report pointed to strength in the U.S. economy but also cited some uncertainties underlying the projections.

“Our U.S. projection does build in some degree of fiscal stimulus coming from the tax reform process. Again, if that does not materialize as expected, we would have to revise. And, the fiscal stimulus, as of now, is a work in progress,” said Obstfeld.

The IMF report said China’s “desirable rebalancing process continues,” and Obstfeld said Beijing’s unwinding of fiscal stimulus is a general concern.

“When that fiscal consolidation will occur is hard to predict. It will depend on the decisions of the leadership and their judgment about when consolidation is best. I think what we can say is that the longer the wait before fiscal consolidation occurs, the sharper fiscal consolidation may have to be,” said Obstfeld.

He said China has taken important steps.

“Obviously, the leadership has made impressive reforms, but more needs to be done. And, with those reforms, we’re confident in China maintaining stability down the road.”

Obstfeld noted that the global economy will accelerate across advanced, emerging and low-income countries.

Recent data from Brazil points to improvement there. Oya Celasun, the head of the World Economic Studies division, said Brazil is showing commitment to reforms, which should help the country’s economy.

“If they are successful in implementing that, that should set the stage for returning the fiscal finances to a much healthier setting. And, also put a strong foundation for a recovery, a return to stronger growth in Brazil. And, as Mr. Obstfeld just mentioned, we’ve had some good news recently. The activity indicators for the first two months of the year have come in strong, which is quite positive news for the outlook,” said Celasun.
Category
Source
Alternate Title
unifeed170418g