IMF Calls for Budget Reforms in France
IMF Calls for Budget Reforms in France

IMF Calls for Budget Reforms in France

News summary

The International Monetary Fund (IMF) has underscored the necessity for fiscal reforms across various nations facing economic challenges, including France, Pakistan, and Poland. IMF chief economist Pierre-Olivier Gourinchas warned that while budgetary consolidation in France is essential, it risks slowing economic growth, emphasizing the need for sustainable public finances and investments. Pakistan's delegation to the IMF was urged to continue reforms that facilitated a recent $7 billion loan, focusing on fiscal consolidation and energy sector improvements. In Poland, IMF officials noted the country's impressive growth but stressed the importance of front-loaded fiscal adjustments to maintain credibility and combat medium-term growth headwinds. Meanwhile, IMF managing director Kristalina Georgieva expressed cautious optimism regarding global economic recovery, highlighting declining inflation and the importance of international cooperation in navigating ongoing challenges. The IMF projects steady global growth at 3.2% for 2024 and 2025, although the need for urgent reforms remains critical amid various economic pressures.

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