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IMF echoes thoughts of Gordon Brown on global recovery

The International Monetary Fund has today suggested, as Gordon Brown did only last week, that the worldwide recession requires all governments around the world to act in harmony and in the name of one cause. As we have seen on a number of occasions, there are many governments around the world who feel unable to fight their own battles never mind the global battle against economic decline without the help of other countries.

The IMF has already secured a significant increase in funding capabilities which is due to be rubberstamped at the G20 summit in London. However, there are concerns that much of the existing and future funding has been set aside to help more recent members of the European Union, which could see older members suffer from a lack of assistance. As has been covered in the financial press on a number of occasions, a significant number of European countries are struggling to rescue their economies with the likes of the UK, Germany and France finding times very hard.

It is hoped that the IMF will also recognise the difficult situation which many larger economies are experiencing and pro rata financial assistance on a basis which is acceptable to everybody.

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