IMF: More than monetary policy required to perk up economies

The International Monetary Fund said that monetary policy alone isn't up to the job of pulling the world economy out of its rut and that fiscal action is now needed. "There is strong and common recognition that achieving growth and jobs cannot rest on one policy alone -- there is no single bullet that will get us to normal growth and some normality with regard to jobs," said Tharman Shanmugaratnam, Singapore's finance minister and chairman of the IMF's International Monetary and Financial Committee.

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