The world Bank (WB) is concerned about the recession in Russia, because its economy is very important for global growth. This was stated today to journalists by the head of the Bank Jim Yong Kim as part of the “Spring meetings” of the world Bank and the International monetary Fund (IMF).
“Russia is a very important member of the world Bank, and we are concerned about the negative growth in Russia”, — he said. According to the head of the world Bank, the recession in Russia has a serious impact on the entire global growth, said PRIME.
For its part, the IMF indicates that the global economy is growing at a moderate pace, but the prospects for the last six months has deteriorated and risks have increased. With this realization begins a new “global political agenda the managing Director of the IMF” Christine Lagarde.
As explained TASS, the publication of the document aligned in time with the beginning of the press conference Lagarde on the eve of the spring session of the governing bodies of the Fund and the world Bank.
“The world economy suffers from such growth, which for too long remained too slow. At that rate, the steady improvement with the expected increase in the standard of living, reduction of unemployment and lower levels of debt countries may be unattainable”, — underlined in the document.
At the same time, the IMF notes that in the most recent years have brought some improvements, including “some propped up oil prices”. Accordingly, from the point of view of the Fund, “the world economy can return to solid and safe path of development”, but only if decisive action.
In the IMF believe that the “good Trinity” of monetary, fiscal and structural measures are able to “raise actual and potential growth rates to prevent recession risk, strengthen financial stability”.
When discussing the situation in countries with emerging markets, the authors of the agenda concluded that in these countries, which served since the recent financial and economic crisis, the main engine of global growth now, “continues the cooling activity because of deep recessions in Brazil and Russia, a modest recovery in developed economies, the implications of rebalancing in China and tighter financial conditions”.
