• SOURCE: IMF

IMF: Growth to Cut Record Debt, but More Work Ahead

ID

507450

Description
CLIP TITLE: 20180418 FM PRESSER SHOTLIST/ TRANSCRIPT: (English) Washington, DC --- 18 April 2018 1. Wide beginning of Fiscal Monitor press briefing 2. Wide journalists at briefing 3. SOUNDBITE: (English) Vitor Gaspar, IMF Director of the Fiscal Affairs Department: “In the Fiscal Monitor, we urge policymakers to avoid pro-cyclical policy actions that provide unnecessary stimulus when economic activity is already pacing up. Instead, most countries should deliver on their fiscal plans and put deficits and debt firmly on a downward path. As I said, there is no room for complacency.” 4. Mid journalists at briefing 5. SOUNDBITE: (English) Vitor Gaspar, IMF Director of the Fiscal Affairs Department: “Global debt is at a new record high. That is something that I very much emphasize in the opening statement and I think is a very important finding from the Fiscal Monitor. Very high levels of debt, in particular together with rapidly increasing debt, have been shown to be risks to financial stability and risks to broad economic activity. That is one of the reasons why we emphasized that now through these good times, through this cyclical upswing it is timely for countries to rebuild fiscal buffers, to build solid foundations of public finance so that they are prepared for harder times that eventually will come.” 6. Close journalist asking question 7. SOUNDBITE: (English) Vitor Gaspar, IMF Director of the Fiscal Affairs Department: “In order for China to be able to organize itself efficiently in the provision of public services and ensure fiscal discipline at all levels of government, it is necessary to rethink these sources of revenues for subnational governments.” 8. Wide journalists 9. SOUNDBITE: (English) Abdel Senhadji, IMF Deputy Director of the Fiscal Affairs Department: “Of course, debt remains relatively high. You’re right at 70% of GDP in 2017. The authorities are well aware of the problem. And they are after proposing in terms of their fiscal consolidation plan in 2017, fiscal year 2017-18, they are planning to continue with the consolidation plan in the current fiscal year and over the medium-term.” 10. Wide journalists 11. Wide IMF officials at close of meeting
Shotlist
CLIP TITLE: 20180418 FM PRESSER SHOTLIST/ TRANSCRIPT: (English) Washington, DC --- 18 April 2018 1. Wide beginning of Fiscal Monitor press briefing 2. Wide journalists at briefing 3. SOUNDBITE: (English) Vitor Gaspar, IMF Director of the Fiscal Affairs Department: “In the Fiscal Monitor, we urge policymakers to avoid pro-cyclical policy actions that provide unnecessary stimulus when economic activity is already pacing up. Instead, most countries should deliver on their fiscal plans and put deficits and debt firmly on a downward path. As I said, there is no room for complacency.” 4. Mid journalists at briefing 5. SOUNDBITE: (English) Vitor Gaspar, IMF Director of the Fiscal Affairs Department: “Global debt is at a new record high. That is something that I very much emphasize in the opening statement and I think is a very important finding from the Fiscal Monitor. Very high levels of debt, in particular together with rapidly increasing debt, have been shown to be risks to financial stability and risks to broad economic activity. That is one of the reasons why we emphasized that now through these good times, through this cyclical upswing it is timely for countries to rebuild fiscal buffers, to build solid foundations of public finance so that they are prepared for harder times that eventually will come.” 6. Close journalist asking question 7. SOUNDBITE: (English) Vitor Gaspar, IMF Director of the Fiscal Affairs Department: “In order for China to be able to organize itself efficiently in the provision of public services and ensure fiscal discipline at all levels of government, it is necessary to rethink these sources of revenues for subnational governments.” 8. Wide journalists 9. SOUNDBITE: (English) Abdel Senhadji, IMF Deputy Director of the Fiscal Affairs Department: “Of course, debt remains relatively high. You’re right at 70% of GDP in 2017. The authorities are well aware of the problem. And they are after proposing in terms of their fiscal consolidation plan in 2017, fiscal year 2017-18, they are planning to continue with the consolidation plan in the current fiscal year and over the medium-term.” 10. Wide journalists 11. Wide IMF officials at close of meeting
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