FINANCIAL TIMES: …Overall, the global outlook remains subdued,” said [ managing director Christine ] Lagarde, in her traditional speech ahead of the annual World Bank and IMF meetings in Washington next week. “In many of the advanced economies, however, we are finally seeing signs of hope. Growth is looking up, financial stability is returning, and fiscal accounts are looking healthier.”
The impact of a slowdown on US Federal Reserve asset purchases had been expected to dominate this year’s annual meetings but the Fed’s decision to hold off on tapering has removed that focus.
Instead, the world’s economic policy makers will have a ringside seat as they assemble in a US capital where much of the federal government is shutdown and a potential default is just days away if Congress cannot resolve its differences. Ms Lagarde said that raising the debt ceiling is “mission critical” for the world economy… (more)
