IMFC pledges to take joint action to mitigate risks

(VOVWORLD) - The International Monetary and Financial Committee (IMFC) on Saturday pledged to make concerted efforts to mitigate risks and enhance resilience against the backdrop of a slowing global economy. 

Chairman of the IMF steering committee, Lesetja Kganyago, said in a press conference at the Spring Meetings of the IMF and the World Bank  that trade tensions, geopolitical risks and political uncertainties are among the challenges to the global economy. Kganyago, who is also governor of the South African Reserve Bank said that fiscal policy should remain flexible and growth-friendly, rebuild buffers, and strike the right chord between ensuring debt sustainability and supporting demand. He added that on monetary policy, the committee agreed that it should ensure that "inflation is on track toward target and inflation expectations are well anchored".