Advanced nations 'can't control world economy'

2011-09-24 22:50

kalahari.com

Washington - Advanced countries can no longer manage global economic stability by themselves, Brazil's Finance Minister Guido Mantega told the International Monetary Fund on Saturday.

"The current world situation is similar to that of 2008," Mantega told the IMF's steering committee in a statement on behalf of several Latin American nations.

Without a strong response from policymakers in the United States and the eurozone, he said, "the best scenario for these countries seems to be prolonged stagnation with high unemployment".

But this time, he said, "emerging market and developing countries are responsible for the larger share of world economy growth" and have a bigger role to play.

"A revival of global demand will depend to a large extent on these countries."

He criticised the loosening of monetary policies in advanced economies for flooding liquidity into the global economy - an issue which has troubled Brazil because of the sharp rise over the past year in its currency due to capital inflows.

"Persistently loose monetary policies" in the United States, Europe and Japan "have caused considerable headaches for emerging-market countries", he said.

Read more on:    imf  |  brazil
NEXT ON NEWS24X

SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/News
 
Traffic
Lottery
 
  • Monday Kuils River - 17:34 PM
    Road name: Polkadraai Road Eastbound
    ROADWORKS between the R102 Van Riebeeck Road and the R310 Baden Powell Drive exit
  • Sunday Parow - 08:10 AM
    Road name: Mike Pienaar Boulevard
    WEEKENDS - ROAD CLOSED between Voortrekker Road and Tienie Meyer Drive due to roadworks (until end July)
 
More traffic reports...
 

Jobs in Cape Town [change area]

Jobs in Western Cape region

Hospital Pre-Certification Agent - Enrolled Nurse or Assistant Nurse

Western Cape
Headcount Personnel
R12 000 - R15 000 Per Month

Fire Engineer

Cape Town
Cozens Recruitment Group ( Western Cape)
R300 000 - R380 000 Per Month

Accountant

Western Cape
Initiate International
R16 000 - R18 000 Per Month

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

2 TV Series for R250

Get 2 TV Series box sets for R250 and save up to R148! Offer valid while stocks last. Shop now!

Mind blowing deals on beauty & fragrances

Save up to 30% off beauty and fragrances. Offer valid while stocks last. Shop now!

Up to 50% off hair care products!

Save up to 50% on professional hair care products at kalahari.com. Offer valid while stocks last. Shop now!

30% off academic books

Score a mind blowing 30% off academic books! Offer valid while stocks last. Shop now!

Mind blowing deals on electronics!

Save up to 35% on electronics. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Samsung Galaxy S III 16GB

There are no straight lines in nature. The Samsung  GALAXY...

From R3795.00

I'm shopping for:

Horoscopes
Aquarius
Aquarius

There is a strong emphasis on relationships. Obsession, emotional disputes, retaliation or competitive actions are highlighted....read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.