“Vulnerable” global economy calls for new mechanisms: IMF – ElEspectador.com

The “highly vulnerable” to the global economy should lead to consider new “financial safety nets”, especially in emerging countries, said Wednesday the International Monetary Fund (IMF).

it there “risks derailing the recovery at a time when the world economy is highly vulnerable to adverse ‘shocks’,” said entity in a tax report two days before a meeting of G-20 finance in Shanghai.

in particular, the IMF expressed concern about the “growing” financial turmoil, falling stock markets and “concerns” related to the Chinese slowdown and the collapse of oil prices.

in this context, the IMF considers “probable” a new cut its global growth forecast, to be published in April.

the institution called the members of the G20 , which will meet in China on Friday and Saturday, to take urgent “strong actions” to push growth in the same way they did in the past.

the report, however, noted that “less than the half” of key economic measures promised by the major powers have been implemented so far.

United States, meanwhile, downplayed the importance of the meeting in China. “No need to wait for a crisis response in a non-crisis environment,” said US Treasury Secretary Jack Lew, in an interview with the network TV Bloomberg.

the report, the IMF estimates that the current situation compels the powers to innovate to better withstand a possible crisis.

according to the institution, the efforts of the international community be concentrated “urgently” in the media to improve the “ financial safety nets ” in the world.

“there could be a need to develop new funding mechanisms to address the risks to the commodity exporting countries and emerging countries with strong fundamentals but vulnerable to external events “

the IMF issued a call to the G20 to reflect on a new mechanism of financial support that can help “contain” the economic impact of geopolitical and health crises.

“the world lacks a mechanism to manage these problems, “said the IMF, noting cases such as the refugee crisis or major epidemics.

the G20 finance forum is made up of 19 of the largest economies world plus the European Union, which has among its Latin American to Brazil, Argentina and Mexico members. Spain has been invited to the meetings of the group since 2008.

The “financial” supplement often used to differentiate this group of G-20 developing countries in the World Trade Organization (WTO).