At a press briefing today by the Fiscal Affairs Department of the IMF, during the Annual Meeting in Bangkok, Thailand, Rodrigo Valdés spoke about the effects of the oil price shock on Global GDP. “My remarks will focus today on the global fiscal situation, the outlook and our policy recommendations, including the fiscal monitors. Analytical chapter, Taxing Better to Boost growth. Let me begin with global developments across major countries, there is little evidence of fiscal consolidation this year. If anything, policy has been moving in the opposite direction.
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