The IMF needs to lead the way and talk things up for the global economy, says David Harris of InvaTrust Consultancy, as he speaks on IMF and the Global Economy in today’s Tip TV Finance Show.
IMF and the Global Economic Forecast
Harris notes that If the IMF continues to talk down and down the global growth they could actually take everything down to a slump. Harris believes that the global growth scenario isn’t so worrisome, with UK and US on the point to raise rates.
China policy makers to ensure growth targets are met
On China and the EM, Harris notes that the IMF didn’t actually reduce their growth forecasts for China – maintaining a 6.8% growth target for 2015 and 6.3% for 2016. He adds that the scenario for China is going to be bumpy ahead but further stimulus might be expected from the policy makers to ensure the growth target doesn’t fall.
On the EM, he believes that the emerging economies have always bumped into head winds but this is how growth occurs in a economy.
IMF needs to change its stance to positive
Harris says that the IMF currently is running scared and is frightened to say something positive about the economy fearing damage to its reputation.
He mentions that there is not all doom and gloom in the world and the IMF might be only painting a wrong picture through its forecasts.
He further sees the needs for the IMF to lead the way and talk up things.
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