IMF increases estimate for fiscal-stimulus efforts

04/26/2009 | Bloomberg

The International Monetary Fund says the Group of 20 nations have pledged to make tax cuts and spending increases equal to 2% of gross domestic product for this year and 1.5% for 2010. Last month, the IMF estimated governments were putting 1.8% in fiscal stimulus to help boost the economy this year and 1.3% for next year. Dominique Strauss-Kahn, managing director at the IMF, said the current stimulus plans "may be enough" if banks' balance sheets are cleansed.

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