IMF and South Korea on the Global Economic Outlook


by NTDTelevision

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Officials from the International Monetary Fund and South Korea have finished up a two-day conference. They say Asia is playing an important role in digging out of the global economic crisis. Here's that story.

A two-day conference co-hosted by the International Monetary Fund and the South Korean government wrapped up in Daejon, South Korea on Tuesday.

Regional policymakers and high-ranking IMF officials participated in the conference to discuss the future role of Asian countries after the global economic crisis.

Speaking at a press conference, IMF managing director Dominique Strauss-Kahn says strong growth in the Asian and Latin American economies means there is little risk of another recession in the global economy.

[Dominique Strauss-Kahn, Managing Director, IMF]: (English)
"We expect 2011 to be a little lower than the level of 2010, but all this is too far from any kind of double-dip, that fact that growth is bit higher or bit lower, subject is totally different from any kind of double-dip."


[Dominique Strauss-Kahn, Managing Director, IMF]: (English)
"Let me start with underlining the leadership of Asia in the global economy increasing role that Asia is playing. This has to do with resilience of the crisis it also comes from the fact that the Asia leading the recovery."

He added that Asia needs to nurture its domestic demand as its export-driven growth remains vulnerable to overseas shocks.

South Korean finance minister Yoon Jeung-hyun also provided an optimistic view on the global economy.

[Yoon Jeung-Hyun, Finance Minister, South Korea]: (Korean, male)
"During the recent economic crisis, the Asian economy has spearheaded the global economic recovery with appropriate stimulus packages and sound macro-economic condition."

Strauss-Kahn also says the IMF will help Asia play a bigger role in the global economy, citing an ongoing move to increase its voting power in the organization.

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