IMF / WORLD ECONOMIC OUTLOOK

12-Apr-2016 00:02:18
The IMF’s World Economic Outlook (WEO) forecasts global growth at 3.2 percent in 2016 and 3.5 percent in 2017, a downward revision of 0.2 percent and 0.1 percent, respectively, compared with the January 2016. IMF / FILE
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STORY: IMF / WORLD ECONOMIC OUTLOOK
TRT: 02:18
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 12 APRIL 2016, WASHINGTON, DC / FILE
SHOTLIST
12 APRIL 2016, WASHINGTON, DC

1. Graphic, World Economic Outlook 2016 logo
2. Wide shot, exterior IMF building
3. SOUNDBITE (English) Maury Obstfeld, Economic Counsellor, International Monetary Fund (IMF):
“Our view of the fundamentals is that they are somewhat fragile and so policy makers need to act now to support the Global Economy.”
4. Close up, IMF sign
5. Wide shot, IMF building
6. SOUNDBITE (English) Maury Obstfeld, Economic Counsellor, International Monetary Fund (IMF):
“We're projecting 3.2 percent growth for 2016 slightly up from 2015 and 3.5 percent growth for 2017.”

FILE – 2015, CHINA

7. Various shots, crowded streets

12 APRIL 2016, WASHINGTON, DC

8. SOUNDBITE (English) Maury Obstfeld, Economic Counsellor, International Monetary Fund (IMF):
“We see potential risks out there from financial market volatility from bumps in China's transition. Importantly from political developments which are increasingly worrisome.

FILE - ETHIOPIA

7.Various shots, crowded market and pedestrians

12 APRIL 2016, WASHINGTON, DC

8. SOUNDBITE (English) Maury Obstfeld, Economic Counsellor, International Monetary Fund (IMF):
“The growth that we have had has not been widely shared enough. We see trends of increasing inequality of stagnant wages in many countries. So ideally policy packages going forward should be more sensitive to these issues of distribution, should think about where policies can have the most impact. I think policy makers more and more need to be thinking in terms of what is the social impact of policies.

FILE – 2012, HYDERABAD, INDIA

9. Various shots, traffic

12 APRIL 2016, WASHINGTON, DC

10. SOUNDBITE (English) Maury Obstfeld, Economic Counsellor, International Monetary Fund (IMF):
“There’s an incredible diversity of performance throughout the world. If you look at emerging markets some are growing at over 7 percent, some are contracting at close to 4 percent. But basically we're all in this together and what happens in one region will affect other regions so policy makers need to keep talking and keep talking about possible cooperation in the future.”

FILE – 2014, BRAZIL

11. Various shots, traffic

12 APRIL 2016, WASHINGTON, DC

12. SOUNDBITE (English) Maury Obstfeld, Economic Counsellor, International Monetary Fund (IMF):
“They also need to think about what they might do if some of the down side scenarios actually do materialize because in that case even more energetic actions might be needed.”
13. Various shots, exterior IMF building
STORYLINE
The IMF’s World Economic Outlook (WEO) forecasts global growth at 3.2 percent in 2016 and 3.5 percent in 2017, a downward revision of 0.2 percent and 0.1 percent, respectively, compared with the January 2016.

The IMF chief economist Maury Obstfeld noted the current diminished outlook calls for an immediate, proactive response. To support global growth, he emphasized, there is a need for a more potent policy mix—a three-pronged policy approach based on structural, fiscal, and monetary policies.

In an interview prior to the IMF & World Bank Spring Meetings, he said “Our view of the fundamentals is that they are somewhat fragile and so policy makers need to act now to support the Global Economy”, adding “Our view of the fundamentals is that they are somewhat fragile and so policy makers need to act now to support the Global Economy.”

Maury Obstfeld described what he thought were the main challenges on the horizon. “We see potential risks out there from financial market volatility from bumps in China's transition.

Importantly from political developments which are increasingly worrisome”, and added, “The growth that we have had has not been widely shared enough. We see trends of increasing inequality of stagnant wages in many countries. So ideally policy packages going forward should be more sensitive to these issues of distribution, should think about where policies can have the most impact. I think policy makers more and more need to be thinking in terms of what is the social impact of policies.”

Summing up the global outlook, he said “There’s an incredible diversity of performance throughout the world. If you look at emerging markets some are growing at over 7 percent, some are contracting at close to 4 percent. But basically we're all in this together and what happens in one region will affect other regions so policy makers need to keep talking and keep talking about possible cooperation in the future.”

The IMF chief economist finally concluded by saying world leaders “also need to think about what they might do if some of the down side scenarios actually do materialize because in that case even more energetic actions might be needed.”
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