Perils Remain Despite Recovery’s Pace, I.M.F. Head Says

[TomCADem]

Source: NY Times

WASHINGTON — The head of the International Monetary Fund said Saturday that the global economic recovery, while moving along faster than expected, was vulnerable to threats posed by long-term unemployment and unsustainable public debts.

“After panic, action and relief is the phase of rebuilding,” Dominique Strauss-Kahn, managing director of the monetary fund, said at its spring meetings.

Youssef Boutros-Ghali, the Egyptian finance minister, who led a meeting of the fund’s policy making committee, said, “The worst is definitely behind us, but we are not out of the woods yet.”

The I.M.F., which only a few years ago found itself defending its relevance, has assumed a new prominence and increased its lending capacity since the global economic turmoil began in 2007. It extended loans of $2 billion to Latvia and $16 billion to Hungary in 2008, and it is now expected to contribute as much as $20 billion to a bailout of debt-stricken Greece.

Read more: http://www.nytimes.com/2010/04/25/business/global/25imf.html

[Indi Guy]

1. The IMF is the Global Face of the Fed...

These vultures feed you debt 'till you die -- then feed on your carrion.

[Altoid_Cyclist]

2. The IMF is more the result of a cross breeding between a vulture and a leech.

They bleed a country and its' people of everything and anything useful until there's nothing left but death and starvation and then feed on the carrion.