IMF Managing Director Christine Lagarde Calls for Action Now to Secure Global Recovery

[SocalDinar]

Mods no actual mention of Iraq here but may be important. I apologize if you feel its not related to our investment please move to correct forum

IMF Managing Director Christine Lagarde Calls for Action Now to Secure Global Recovery

Press Release No.12/358

September 24, 2012

Christine Lagarde, Managing Director of the International Monetary Fund, today urged policymakers to use the window of opportunity offered by recent policy decisions—and to take the actions needed to achieve a decisive turn in the global crisis.

“This time, we need a sustained rebound, not a bounce. If this time is to be different, we need certainty, not uncertainty. We need decision makers to be real action takers. We need delivery,” she said in a speech at the Peterson Institute for International Economics.

She described recent initiatives by major central banks as “big policy signals in the right direction”—the European Central Bank’s OMT bond-purchasing program, QE3 by the U.S. Federal Reserve, and the Bank of Japan’s expanded Asset Purchase Program. At the same time, Ms. Lagarde warned that the global economy is still fraught with risks and policy uncertainty is weighing growth down. The IMF continues to project a gradual recovery, but global growth will likely be a bit weaker than anticipated even in July, she said.

Speaking ahead of the joint Annual Meetings of the IMF and World Bank Boards of Governors in Tokyo, Ms. Lagarde focused on three key sets of policy challenges: the unfinished agenda for Europe and the United States; increased pressures in the rest of the world; and commitments on which the IMF also must deliver.

“Europe obviously remains the epicenter of the crisis and where the most urgent action is needed,” she said, calling on European policymakers to deliver on their commitments—including by establishing a single supervisory banking mechanism and enabling the direct recapitalization of banks. Other actions include implementing the European financial firewall—notably the European Stability Mechanism; the agreed plan for fiscal union; and, at the country level, the reforms that are essential for growth, jobs, and competitiveness.

Ms. Lagarde said that another major risk to the global economy is in the United States, where “current law implies a dramatic tightening of the deficit by about 4 per cent of GDP next year… Failure to reach a deal on raising the debt ceiling could also force a dramatic tightening.” She called for action to avoid this so-called “fiscal cliff” and a concrete plan “to bring down debt gradually over the medium term.”

Ms. Lagarde also noted how, after leading the global economy in the current recovery, the major emerging markets are now slowing; she urged them to focus on countering vulnerabilities, whether domestic or external. She added that she is pushing hard to ensure adequate financing for low-income countries, including through the IMF’s concessional lending via the Poverty Reduction and Growth Trust (PRGT). She also called for increased support from the international community so that successful transformation in the Middle East can be based on a “foundation of inclusive growth and employment.”

Finally, Ms. Lagarde said that the IMF is striving to be even more effective by improving its economic analysis and strengthening the global financial safety. The Fund is also making good progress in reaching final agreement on “the most significant governance changes in IMF history.” She said that the IMF was pushing to pass these reforms, aimed at giving greater representation to emerging market and developing economies, “if not by October, then as soon as possible thereafter.”

http://www.imf.org/external/np/sec/pr/2012/pr12358.htm

Edited September 24, 2012 by SocalDinar

[i_musician77]

Awesome post....this is the type of activity/statements we should be paying close attention to! Great find!

[steveinfla]

Awesome post....this is the type of activity/statements we should be paying close attention to! Great find!

I agree and I would like to add this sounds like a hey PULL YOUR THUMB OUT OF YOUR ARSES AND GET IF DONE NOW!!!! statement to me..... If the Iraqi Dinar is going to be used as a reserve currency I would have to believe IMF is pushing for an Iraq RV atleast I would think that anyway...

Edited September 24, 2012 by steveinfla

[Peace]

She described recent initiatives by major central banks as “big policy signals in the right direction”—the European Central Bank’s OMT bond-purchasing program, QE3 by the U.S. Federal Reserve, and the Bank of Japan’s expanded Asset Purchase Program

Well wish I could see "eye to eye" but she's full of it.

Ya know, had they taken QE1 -QE3 and divided it equally amongst the civilians there would have been a recovery!!

PANDERING!!!!!!!!!!!!!! This will not create a recovery but sounds good on the surface. haha

[MoonRover]

Yea!! Let's hurry up and wait...

[DropItLikeItsHot]

SocalDinar EXCELLENT FIND

I'd rate this right up there with the recent articles about Oil & Gas Law, HCL and removal from Chapter VII

Heck I might even rate it above the articles as at least 1/2 of the news coming out of Iraq isn't worth a pinch of coon $h!t

+'s for Ya

DropItLikeItsHot GO RV

[cashman54]

I would love to be a fly in her brain cell to see if she has the dinar on her mind, let's pray to God this is in the works!?!

[easyrider]

Finally, Ms. Lagarde said that the IMF is striving to be even more effective by improving its economic analysis and strengthening the global financial safety. The Fund is also making good progress in reaching final agreement on “the most significant governance changes in IMF history.” She said that the IMF was pushing to pass these reforms, aimed at giving greater representation to emerging market and developing economies, “if not by October, then as soon as possible thereafter.”

this goes out to all those lopsters!! very telling and indeed hasnt been seen in IMF's history. I believe things will start happening in Ocotber sometime, the October surprise perhaps?

Edited September 24, 2012 by easyrider

[yota691]

Finally, Ms. Lagarde said that the IMF is striving to be even more effective by improving its economic analysis and strengthening the global financial safety. The Fund is also making good progress in reaching final agreement on “the most significant governance changes in IMF history.” She said that the IMF was pushing to pass these reforms, aimed at giving greater representation to emerging market and developing economies, “if not by October, then as soon as possible thereafter.”

this goes out to all those lopsters!! very telling and indeed hasnt been seen in IMF's history. I believe things will start happening in Ocotber sometime, the October surprise perhaps?

Them Lopster Love History!! SOON to make History!! Thanks SocalDinar....

[Cherysh]

"Ms. Lagarde said that another major risk to the global economy is in the United States, where “current law implies a dramatic tightening of the deficit by about 4 per cent of GDP next year… Failure to reach a deal on raising the debt ceiling could also force a dramatic tightening.” She called for action to avoid this so-called “fiscal cliff” and a concrete plan “to bring down debt gradually over the medium term.”

Ummmmm *tap tap* is this thing on?? *audio static* "In case you weren't paying attention...you US government over there...that was for you. Dont make me repeat it, y'all are smart, figure it the hell out, and like yesterday!"

I like her name for it, "Fiscal Cliff"

Great post SocalDinar!!

[yota691]

Here another Lagarde calls to push the global economy

Picture won't load...

Lagarde: the global economy is still suffering from the effects of the financial crisis (European)

Called Director of the International Monetary Fund policymakers in Europe and the United States to take swift action in order to drive the growth of the global economy.

Said Christine Lagarde in her speech to the Peterson Institute for the global economy in Washington, "My message today is a basic necessity to implement the policies needed to ensure the recovery of the global economy," noting that it is still suffering from the effects of the global financial crisis and the subsequent recession .

She noted that the epicenter of the crisis is Europe, where the concentrated effort required. And called for the establishment of the bank in the euro zone Union to monitor banks in Member States, a commitment pledged by the leaders of the European Union in June / June, but his idea was lost in the midst of disagreements between Germany and France, the two largest economies in Europe.

They pointed to the need for the establishment of the Union as soon as possible in order to break the vicious circle between banks and governments.

The remarks came Lagarde after the differences that appeared clear yesterday between German Chancellor Angela Merkel and French President Francois Hollande on allowing the European rescue mechanism to lend banks directly without passing through the governments which would increase the burden of loans of these banks.

And welcomed the decision of the European Central Bank to buy bonds weak euro zone states, and said that these countries face significant challenges to the implementation of the rescue programs to reform their economies.

Lagarde said that the IMF expects a gradual recovery of the global economy, but more slowly than had been thought in July / July.

The fund was expected in July global economy grew by 3.5% in 2012 and 3.9% in 2013. http://www.aljazeera.net/ebusiness/pages/0d4c16b2-8775-4633-b3ca-2f39f7515261

[SocalDinar]

Finally, Ms. Lagarde said that the IMF is striving to be even more effective by improving its economic analysis and strengthening the global financial safety. The Fund is also making good progress in reaching final agreement on “the most significant governance changes in IMF history.” She said that the IMF was pushing to pass these reforms, aimed at giving greater representation to emerging market and developing economies, “if not by October, then as soon as possible thereafter.”

this goes out to all those lopsters!! very telling and indeed hasnt been seen in IMF's history. I believe things will start happening in Ocotber sometime, the October surprise perhaps?

Thats quite a quote from Ms Lagarde, Sounds like a worldwide event gonna happen soon!

Them Lopster Love History!! SOON to make History!! Thanks SocalDinar....

I'm thinking this is important Yota, the urgency was implied by the head of the IMF. Love it!

"Ms. Lagarde said that another major risk to the global economy is in the United States, where “current law implies a dramatic tightening of the deficit by about 4 per cent of GDP next year… Failure to reach a deal on raising the debt ceiling could also force a dramatic tightening.” She called for action to avoid this so-called “fiscal cliff” and a concrete plan “to bring down debt gradually over the medium term.”

Ummmmm *tap tap* is this thing on?? *audio static* "In case you weren't paying attention...you US government over there...that was for you. Dont make me repeat it, y'all are smart, figure it the hell out, and like yesterday!"

I like her name for it, "Fiscal Cliff"

Great post SocalDinar!!

And Bernanke has no where left to go, The banks are not going to lend at this junk interest rate he's feeding them

They must have a Hail Mary plan, I Can't believe they don't .

[PD41]

“the most significant governance changes in IMF history.” She said that the IMF was pushing to pass these reforms, aimed at giving greater representation to emerging market and developing economies, “if not by October, then as soon as possible thereafter.”

http://www.imf.org/external/np/sec/pr/2012/pr12358.htm

WOW

What does this mean ?

Thnx SCD

[yota691]

Here you go SocalDinar IMF warns of collapse of major banks because of Basel 3

He stressed that the global financial system remains fragile

Wednesday, November 10, 1433 - September 26, 2012

Monetary Fund warned of the repercussions of committing banks to raise their capital

London - Arab News

International Monetary Fund warned that the standards "Basel 3", which was approved in Switzerland recently may result in more of the world's major banks to collapse, rather than protecting the light of the global economic crisis. It is assumed that the banks start in the world to be bound by these new standards as of the year 2015 They include broad structural reforms of the banking sector in the world, including with regard to precautions mandatory for banks. newspaper "Financial Times" Wednesday 09/26/2012 British report issued by the International Monetary Fund that the standards "Basel 3" approved by lawmakers Financial Aalmeon may cause worsening crisis in major financial institutions, leading each to collapse, while struggling governments to rescue financial institutions from the financial crisis. Analysts said the International Monetary Fund said that "banking groups major has the features that make them better able to absorb the costs of regulatory standards new, this Groups may become more famous and privilege in the market, and the market itself will become more focused. " It was the decision makers the economic and financial in Basel had discussed forcing companies and financial institutions heads and financial reserves more to become better able to recover from any financial crisis facing the markets in the future. to Therefore, analysts added in the latest report on global financial stability issued by the International Monetary Fund, "The banks that have a large share in the activities of fixed incomes, and in the currency, and commodity markets will become more dominant on the market." and International Monetary Fund warned that the standards "Basel 3" will also raise the motivation of many financial institutions in order to circumvent the frameworks natural force in the banking systems. report warned tone and clear that "bind banks to raise their capital could put growth at bay." the IMF said in The report said the global financial system remains fragile four years after the collapse of Lehman Brothers in the United States fall of 2008. and continued: "reforms in the global financial system, including the Basel 3, moved" a bit in the right direction but they were not enough. " The IMF said, "Although there are some reforms, but some of the economy still has not seen significant changes."

http://www.alarabiya.net/articles/2012/09/26/240338.html

Edited September 26, 2012 by yota691

[SocalDinar]

Thanks Yota,

I wonder which Central Bank is next.

Im betting on Portugal. Just a hunch.

Have a great day +1 for you as always!

[yota691]

Finally, Ms. Lagarde said that the IMF is striving to be even more effective by improving its economic analysis and strengthening the global financial safety. The Fund is also making good progress in reaching final agreement on “the most significant governance changes in IMF history.” She said that the IMF was pushing to pass these reforms, aimed at giving greater representation to emerging market and developing economies, “if not by October, then as soon as possible thereafter.”

this goes out to all those lopsters!! very telling and indeed hasnt been seen in IMF's history. I believe things will start happening in Ocotber sometime, the October surprise perhaps?

I think the Guru's are going crazy on this article!!!

[uncirculd]

She described recent initiatives by major central banks as “big policy signals in the right direction”—the European Central Bank’s OMT bond-purchasing program, QE3 by the U.S. Federal Reserve, and the Bank of Japan’s expanded Asset Purchase Program

Well wish I could see "eye to eye" but she's full of it.

Ya know, had they taken QE1 -QE3 and divided it equally amongst the civilians there would have been a recovery!!

PANDERING!!!!!!!!!!!!!! This will not create a recovery but sounds good on the surface. haha

Yep, it did nothing but create more debt. They could have gave the taxpayers the money and that would have fixed a lot. Not to mention, if they allow our wages to go up instead of getting lower, we would spend more. How ignorant can they be. Oh, sorry, not ignorant, it's greedy. They won't be happy until they have extracted all the wealth from all the nations.

[SocalDinar]

Yep, it did nothing but create more debt. They could have gave the taxpayers the money and that would have fixed a lot. Not to mention, if they allow our wages to go up instead of getting lower, we would spend more. How ignorant can they be. Oh, sorry, not ignorant, it's greedy. They won't be happy until they have extracted all the wealth from all the nations.

Down to the last penny Uncirculd, you are so right!