So we see clearly that the Indian government is moving in a path of reform that will allow the Indian economy to perform on a strong footing in future. We think that the prospects for the Indian economy are very good. |
The committee has given me a clear mandate to make some proposals in Singapore. |
The Fund is uniquely placed to provide this function. |
The impact of oil on the global economy has so far been moderate, but it remains a serious risk. |
The problem is that good economic performance rests on a shaky foundation, because of large and continuing global imbalances. |
The prospect of the fund declining to provide financial support would strengthen the incentives to implement sound policies, thus avoiding the need for fund support in the first place. |
There are actions governments and central banks can take to reduce the risks of that outbreak, and we are making sure that all partners in this respect are aware of what they can do. |
There is a need to reduce obstacles to both upstream and downstream investment, and to invigorate conservation programs. These measures will take some time to show effect but surely the sooner we start the better. |
There is very strong demand and we don't see that demand receding. Prices are not going back to the levels seen at the beginning of 2004. |
There was a consensus, at least among the two big parties, that reforms were crucial. |
These imbalances pose serious risks to prosperity, because they are clearly unsustainable, and if they are corrected in a disorderly way, through an abrupt decline in the U.S. dollar and rise in U.S. interest rates, growth and prosperity all over the world will be threatened, |
These measures would take some time to have their full effect, but taking them would help calm the oil market. |
They are opening their exchange rate to market forces. That is what we advised them to do and they should continue in that direction. They need to strengthen their banking system, and that is a big challenge. |
This is a very good moment for Latin America to take advantage of very good economic circumstances. |
This is an historic moment which will allow these countries to increase spending in priority areas to reduce poverty, promote growth, and to make progress towards achieving the (UN) Millennium Development Goals. |