Heterodox
15:51 "It is clear that we have entered recession," said IMF head Kristalina Georgieva. Due to the pandemic, the global economy experienced a "sudden stop" and the fund is now looking for a practical approach to prevent indebted countries from "falling off the cliff." 15:23 The ongoing pandemic will have a deep economic impact and recovery could be only expected in 2021, said IMF chief Georgieva. This target can only be reached if the virus is contained and liquidity problems are not...
Read More »IMF boss says raise taxes on the rich to tackle inequality— Larry Elliott
Kristalina Georgieva, the IMF’s managing director, said higher marginal tax rates for the better off were needed as part of a policy rethink to tackle inequality. In a sign of how the IMF has moved away from the tax-cutting approach that once formed a central part of its policy advice, Georgieva said there needed to be a different approach to tackling what had become “one of the most complex and vexing challenges in the global economy”. The IMF chief, writing in a blog, said: “Inequality...
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