IMF urges advanced nations to take it easy on austerity measures

04/25/2013 | (China)

The world's advanced economies should throttle back on austerity and consider a balanced approach to recovery that includes attention to growth, the International Monetary Fund is advising. "Fiscal tightening must continue at a pace that the recovery can handle. Short-term adjustment must be calibrated carefully, anchored by credible and strong medium-term consolidation plans," the IMF said in a paper submitted to the Group of 20 nations last week and made public Thursday.

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